February 23, 2009 / 8:50 PM / 11 years ago

Argentina shares follow Wall Street lower

BUENOS AIRES, Feb 23 (Reuters) - Argentina’s stock, currency and bond market trends on Monday:

* The benchmark MerVal stocks index .MERV shed 3.73 percent to 1,009.51 points, in line with a sell-off on Wall Street caused by uncertainty about the U.S. banking sector.

* The index lost 7.6 percent over the course of the previous week.

* Monday’s losses were led by index heavyweight Tenaris TENA.BA, which makes steel tubes for the energy sector and whose shares dropped 6.6 percent to 33.30 pesos.

* Government bonds traded over the counter in Buenos Aires fell 0.6 percent on average as investors shied away from risk.

* The dollar-denominated 2038 Par bond ARPARD=RASL shed 3.2 percent, while the 2012 “Boden” ARBODEN12D=RASL sank 2.2 percent, according to the ask price.

* In formal trade between banks, where the central bank regularly intervenes to avoid abrupt currency movements, the peso weakened 0.35 percent to 3.5475/3.55 per dollar ARS=RASL.

* In informal trade between foreign exchange houses, as measured by Reuters, the peso currency slumped 0.75 percent to 3.6475/3.6525 ARSB=. (Reporting by Jorge Otaola and Walter Bianchi; Writing by Hugh Bronstein; Editing by Jonathan Oatis)

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