August 3, 2009 / 8:38 PM / 9 years ago

Argentine stocks surge to year high close

BUENOS AIRES, Aug 3 (Reuters) - Argentina’s stock, currency and bond market trends on Monday:

* The MerVal stocks index .MERV jumped 3.6 percent to its highest close in a year at 1,781.8 points, as oil sector stocks got a boost from higher oil prices

* Shares of steelmaker Tenaris (TENA.BA) (TS.N), a leading producer of pipes for the energy sector that accounts for almost half of the MerVal, climbed 4.74 percent to 60.75 pesos.

* On the broad market, stocks volume was very strong at $22.3 million. Among active issues, 38 advanced, 20 declined and 18 were unchanged.

* Prices for government bonds traded over-the-counter in Buenos Aires climbed 2.4 percent on average as confidence was lifted by a $2.25 billion payment of interest and principle on its Boden 12 bonds.

    * The dollar-denominated Par bond was among the day’s winners, skyrocketing 7 percent ARPARD=RASL to an ask price of 28.90.

    * In formal trade between banks, the peso rose 0.07 percent to 3.825/3.8275 per dollar <ARS=RASL despite the government’s debt repayment using central bank reserves.

    * In informal trade between foreign exchange houses as measured by Reuters, the peso firmed 0.13 percent to 3.86/3.865 per dollar ARSB=. (Reporting by Jorge Otaola; Writing by Helen Popper, Editing by Chizu Nomiyama)

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