Argentina’s Stocks, Bonds Fall; Peso Steady in Black Market

    
    

    BUENOS AIRES--Argentina's stocks and benchmark government bonds closed lower Tuesday, while the peso was steady in the underground currency market.

    Among government bonds, the Bonar 2017 fell 1.3% in price to ARS701.10, the Bonar 2013 fell 0.8% to close at ARS864.00, and the Boden 2015 closed 1.2% lower at ARS775.20.

    The Merval index of leading stocks closed 1.4% lower at 3336.74 on volume of ARS35.1 million ($6.4 million).

    State-run oil company YPF SA (YPF, YPF.BA) fell 2.7% to ARS128.00, phone company Telecom Argentina SA (TEO, TECO2.BA) closed 0.6% lower at ARS26.85, and banking firm Grupo Financiero Galicia SA (GGAL, GGAL.BA) fell 1.5% to ARS4.52.

    Among gaining issues, steel tube maker Tenaris SA (TS, TS.BA) rose 2.2% to ARS186.25.

    The Argentine peso weakened to close at ARS5.4990 against the dollar on the regulated MAE foreign-exchange wholesale market, compared with ARS5.4950 at Monday's close.

    The central bank intervenes in the exchange market on an almost daily basis as it tries to buy dollars to build its foreign currency reserves, while gradually weakening the peso to help exporters.

    On the black market, the peso was steady at ARS8.53 to the dollar, according to the newspaper El Cronista, which publishes an average of rates collected from black-market traders.

    Strict capital controls that limit the amount of foreign currency Argentines can purchase legally have fueled a parallel illegal market for dollars where residents pay a steep premium for the U.S. currency.

    
    

    Write to Ken Parks at ken.parks@wsj.com

    
    

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