Apr
19
The following companies had unusual
price changes in Argentine trading. Stock symbols are in
parentheses and share prices are as of the close in Buenos
Aires.
The Merval (MERVAL) index fell 0.2 percent to 2,352.83.
Some of Argentina’s most-traded stocks rose as they have
been able to decouple from the negative news caused by the
nationalization of oil producer YPF SA (YPFD), Marcelo Olguin, chief
economist at Buenos Aires-based brokerage Grupo SBS, said in a
phone interview.
Banco Macro SA (BMA) , the country’s largest lender by
market share, rose 4.7 percent to 9.15 pesos, its biggest gain
in more than three months, and Grupo Financiero Galicia SA (GGAL) , Argentina’s largest consumer lender, increased 1.7 percent
to 3.04 pesos.
YPF SA (YPFD AF) gained 5.1 percent to 81 pesos, ending a
four-day losing streak in which the stock fell 37 percent.
Investors are betting that the government will eventually pay a
higher value to Repsol YPF SA (REP) as compensation for the
nationalization of its unit than the multiyear low reached
yesterday, Olguin said.
To contact the reporter on this story:
Eduardo Thomson in Santiago at
ethomson1@bloomberg.net
To contact the editor responsible for this story:
David Papadopoulos at
papadopoulos@bloomberg.net
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