May 26, 2009 / 9:03 PM / 11 years ago

Argentina stocks rise as oil prices lift Petrobras

BUENOS AIRES, May 26 (Reuters) - Argentina’s stock, currency and bond market trends on Tuesday:

* The MerVal stocks index .MERV rose for the sixth straight session, propelled by energy-related shares. The index rose 1.27 percent to 1,582.3 points, adding to a 10 percent rise since May 15.

* Buenos Aires-listed shares of Brazil’s state-run energy company Petrobras APBR.BA rose 2.22 percent to 80.75 pesos per share as oil prices hit a fresh six-month high, bolstered by U.S. consumer confidence data and comments from OPEC kingpin Saudi Arabia that prices may continue to rise.

* On the broader stock market, volume was light at $16.8 million. Among active issues, 28 advanced, 24 declined and 24 ended unchanged.

* Prices for government bonds traded over-the-counter in Buenos Aires rose on average 1.5 percent on healthy investors’ appetite for risky assets, traders said.

* The dollar-denominated Bonar 2011 bond ARBONAR11D=RASL rose 4.4 percent, according to the ask price.

* In formal exchange between banks, the Argentine peso dipped 0.07 percent to end at 3.7375/3.74 per dollar ARS=RASL.

* In informal trade between foreign exchange houses, as measured by Reuters, the peso rose 0.2 percent to end at 3.7925/3.7975 ARSB=. (Reporting by Jorge Otaola; Writing by Kevin Gray; Editing by Diane Craft)

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