Taos Turner
Of DOW JONES NEWSWIRES
BUENOS AIRES (Dow Jones)--The Argentine peso fell again Wednesday to close at ARS3.7225 against the U.S. dollar, while stocks ended higher and bonds were mixed.
The peso weakened from ARS3.7175 the previous day.
Volume totaled $371 million.
The central bank and the state-run Banco Nacion injected dollars into the market in a bid to keep the peso from declining further, ABC Mercado de Cambios said in a report, without saying how much the banks may have spent.
The benchmark Merval stock index rose 2.15% to 1,270.61.
Volume was minimal at ARS36 million ($6.9 million). About ARS26 million of that involved trading in just two companies, the steel tube maker Tenaris (TS) and the Brazilian oil giant Petroleo Brasileiro SA PBR), or Petrobras, according to Ruben Pascuali, a trader at Puente Hermanos.
"The market here has a very high concentration in Tenaris and Petrobras," he said.
Petrobras led the gains, rising 4.29% to ARS64.40. Petrobras has only a supplemental listing in Argentina, meaning its ups and downs don't reflect confidence in the local market.
Petrobras's local unit, Petrobras Energia (PBE.BA), rose 2.67% to ARS2.30, while Tenaris rose 2.56% to ARS48.
The benchmark peso-denominated bond was unchanged in price terms at ARS48.40, yielding 22.2%. The dollar-denominated Boden 2012 fell 0.58% in price terms to ARS204.90, to yield 53.08%.
-By Taos Turner, Dow Jones Newswires; 54-11-4103-6728; taos.turner@dowjones.com
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