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) -- 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) 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.