April 24, 2009 / 9:15 PM / 11 years ago

Argentine stocks reach six-month high, bonds firmer

BUENOS AIRES, April 24 (Reuters) - Argentina’s stock, currency and bond market trends on Friday:

* The MerVal stocks index .MERV rose 2.51 percent to 1,259.23 points, the highest level since mid-October as global gains lifted the market for a fourth straight session.

* Steelmaker Tenaris TENA.BA(TS.N), which makes tubes for the energy industry and accounts for almost half of the MerVal, rose 5.0 percent to 47.25 pesos per share as oil prices rose.

* On the broader market, volume was $13.4 million. Of active issues 29 advanced, 21 declined and 15 were unchanged.

* Prices for government bonds traded over the counter in Buenos Aires also rose for a fourth consecutive day, climbing 1.4 percent on average in line with global gains.

* Dollar-denominated Discount bonds ARDISCD=RASL gained 2.9 percent, according to the ask price.

* In formal exchange between banks, the peso ended unchanged at 3.695/3.6975 per dollar ARS=RASL in light trade affected by a pay strike by bank workers.

* In informal trade between foreign exchange houses as measured by Reuters, the peso weakened just 0.07 percent to end at 3.740/3.7450 ARSB=. (Reporting by Walter Bianchi and Jorge Otaola; Writing by Helen Popper; Editing by Diane Craft)

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