February 25, 2009 / 9:31 PM / 11 years ago

Argentine stocks slide ahead of Tenaris results

BUENOS AIRES, Feb 25 (Reuters) - Argentina’s stock, currency and bond market trends on Wednesday:

* The MerVal stocks index .MERV fell 2.11 percent to 1,019.11 points as investors sold market heavyweight Tenaris ahead of its earnings report. The Merval was also dragged down by Wall Street, extending this year’s losses in the local market to 5.61 percent. U.S. shares then staged a late-day rebound.

* Shares of Tenaris, TENA.BATS.N(TENR.MI) the world’s largest maker of seamless steel pipes for the energy industry, slid 5.14 percent to 33.2 pesos per share. The company was set to announce fourth-quarter results later on Wednesday.

* On the broad market volume was a tepid at $14.9 million. Of active issues 36 declined, 14 advanced and 9 were unchanged.

* Prices for government bonds traded over-the-counter in Buenos Aires rose an average of 0.5 percent in light volume as investors went deal hunting after the local market posted a 4.7 percent fall over the previous three sessions.

* The peso-denominated “Par” bond ARPARP=RASL rose 2.8 percent to and ending ask price of 18.60.

* In formal exchange between banks the peso ended unchanged at 3.5525/3.555 per dollar ARS=RASL.

* In informal trade between foreign exchange houses, as measured by Reuters, the peso fell 0.14 percent to end at 3.675/3.68 ARSB=. (Reporting by Jorge Otaola; Editing by Diane Craft)

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