Argentine stocks rise on oil prices; peso firms

BUENOS AIRES, May 16 (Reuters) - Argentine stocks rose on Friday as rising global crude oil prices lifted energy-related shares, while bonds and the peso rose.

The benchmark MerVal index ended 0.7 percent higher at 2,137.01 points, finishing the week with a 1.07 percent gain.

"The MerVal got a lift from oil-related shares thanks to the rise in crude prices," said Guido Macchi, a trader at Julio Macchi brokerage.

Shares in index heavyweight and steelmaker Tenaris (TENA.BA: Quote, Profile, Research, Stock Buzz) -- the world's leading producer of seamless steel tubes for the energy industry -- rose 2.05 percent to 96.95 pesos.

The local listing of Brazilian state-run energy Petrobras (APBR.BA: Quote, Profile, Research, Stock Buzz) gained 2.05 percent to 115.5 pesos.

U.S. crude oil climbed to record peaks near $128 on Friday partially driven by news Goldman Sachs, the most active investment bank in energy markets, predicted oil prices will average $141 a barrel in the second half this year due to thin inventories.

Banking shares that had fallen on the MerVal in recent days continued to sag due to a continued farmers strike in Argentina that has fueled political uncertainty in recent weeks.

"Banking shares are reflecting they are the most affected by the tensions between the government and farmers, and until there is an agreement it will be difficult to clear away the uncertainty surrounding banks in the eyes of investors," Macchi said.

Farmers went on strike last week protesting a tax hike on grains exports, and extended the strike on Thursday.

The strike has caused market jitters in recent weeks, forcing the central bank to intervene heavily to prevent the peso currency from weakening amid increased dollar-buying by ordinary Argentines.

Volume on the broad market was relatively strong at $45.9 million. Among active shares, 32 rose, 32 declined and 21 were unchanged.

On the debt market <AR/BONOS>, bonds traded locally closed 0.5 percent higher on average as investors sought to take advantage of recent losses, also fueled by the farmers strike.

The central bank continued to sell dollars aggressively on the foreign exchange market, helping the peso to strengthen, traders said

In informal trade between foreign exchange houses, as measured by Reuters, the peso <ARSB=> closed at 3.235/3.2375 per dollar.

In formal interbank trade <ARS=RASL>, where the central bank intervenes to stabilize the currency, the peso gained 0.48 percent to 3.145/3.1475 per dollar. (Reporting by Walter Bianchi, Writing by Kevin Gray; Editing by Diane Craft)