Argentine stocks slipped slightly on Friday after a session of zigs and zags, but bonds got a lift from renewed appetite for risk after banks were promised aid in the United States. The benchmark MerVal index gave up 0.2 percent to 1,097.96 points. On the broad market, volume was meagre at $7 million. Of active issues 33 declined, 13 advanced and 17 were unchanged.
Argentina's biggest financial group Group Financiero Galicia fell 3.1 percent to 0.741 pesos per share. "The market showed very scarce transactions ahead of Monday's holiday in the United States, which meant institutional investors stayed away, waiting for the inauguration of the new president on Tuesday," said Ruben Pascuali, a trader with Mayoral brokerage.
Argentine government bonds traded over-the-counter in Buenos Aires rose on average, led by a 4.3 percent gain in the 2033 dollar-denominated Discount bond to 35.6 ask price. Traders said the US rescue of Bank of America helped. "Anything that generates confidence is welcome and gets transferred to risk assets," one trader said.
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