--Argentine stocks and bonds fall on local truckers strike, global economic fears --Tenaris, Grupo Galicia most traded stocks --Peso little changed against the U.S. dollar By Taos Turner BUENOS AIRES--Argentine stocks and bonds fell Thursday on concern about the implications of a debilitating truck drivers' strike and renewed fears of economic problems in Europe and the U.S. The Merval index fell 1.7% to 2311.43 in volume totaling ARS45.5 million ($8.9 million). The steel producer Tenaris SA (TS, TEN.MI) was the most heavily traded stock. It fell 2.8% to ARS111.8. The financial group Grupo Financiero Galicia SA (GGAL.BA, GGAL) fell 1.3% to ARS2.99. The Global X FTSE Argentina 20 ETF fell 3.4% to $7.71. A truck drivers' union decided to end the day-old strike that seriously disrupted fuel supplies and even industrial activity. Union boss Hugo Moyano said labor leaders ended the strike after reaching an agreement with truck owners to raise drivers' wages by 25.5% over the next nine months. But while the deal eliminated an immediate problem for Argentine President Cristina Kirchner and her administration, Mr. Moyano said the union still plans to hold a national strike June 27. Mr. Moyano, who called on Ms. Kirchner "to stop being arrogant," demanded that the government cut income taxes on workers. He indicated other unions might also adhere to the strike next week. The fuel strike, which started Wednesday when truck drivers blockaded oil refineries and fuel depots, was part of a broader struggle between Mr. Moyano and Ms. Kirchner, who has actively supported plans to replace Mr. Moyano, who also is head of the influential labor-union umbrella group, the Confederacion General del Trabajo, or CGT. Truckers had called for a 30% salary increase and for the government to cut income taxes for members of their union. The strike rattled investors nerves and reminded people just how fragile Argentina can seem in terms of political and economic stability. The TVPP GDP warrant fell 1.1% to ARS11.12 on continuing concern that economic growth won't reach the 3.26% rate necessary for the government to make a payment in 2013 for this year's growth. Meanwhile, the Bonar 2015 dollar-denominated bond fell almost 2% to ARS496.25. The peso was barely changed at ARS4.501 against the U.S. dollar on the MAE local foreign-exchange wholesale market, compared with ARS4.5005 in the previous session. The black-market rate remained close to ARS5.95 to the dollar, as government restrictions on buying dollars continue to lead residents to pay a fat premium. Write to Taos Turner at taos.turner@dowjones.com
