February 19, 2009 / 9:07 PM / 11 years ago

Argentina stocks rebound on crude, peso slides

BUENOS AIRES, Feb 19 (Reuters) - Argentina’s stock, currency and bond market trends on Thursday:

* The benchmark MerVal stocks index .MERV gained 1.02 percent to 1,065.67 points, rebounding after three sessions of losses as energy shares got a boost from a sharp rise in U.S. crude oil futures.

* The gains came despite an announcement by equity index provider MSCI Barra MXB.N that it will reclassify Argentina as a frontier market from an emerging market, due to its restrictions on capital flows.

* The Buenos Aires-listed shares of Brazilian state energy firm Petrobras APBR.BA, which carries a 12 percent weighting on the MerVal, rebounded 4.7 percent to 50.60 pesos.

* On the broad market, volume was weak at $8.8 million. Among active issues, 20 advanced, 30 declined and 12 ended unchanged.

* Government bonds traded over the counter in Buenos Aires rose 0.4 percent on average as investors took advantage of recent declines, which had been spurred by risk aversion.

* The peso-denominated 2038 Par bond ARPARP=RASL jumped 2.1 percent, according to the ask price.

* In formal exchange between banks, where the central bank regularly intervenes to avoid abrupt movements, the peso weakened 0.64 percent to 3.5325/3.535 per dollar ARS=RASL.

* In informal trade between foreign exchange houses, as measured by Reuters, the peso currency slumped 1.25 percent to 3.605/3.61 ARSB=, its lowest level since December 2002.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below