The following companies are having
unusual price changes in Argentine trading. Stock symbols are in
parentheses, and share prices are as of 2:35 p.m. in Buenos
Aires. The Merval (MERVAL) index gained 2.4 percent to 2,243.47, the
highest level on a closing basis in June.

Grupo Financiero Galicia SA (GGAL) rose 2.1 percent to
2.89 pesos. Argentina’s largest consumer lender gained in line
with global stocks as investors are “optimistic that groups
that favor austerity measures will win elections in Greece this
weekend,” Mariano Tavelli, president of Buenos Aires-brokerage
Tavelli Cia., said in a phone interview.

YPF SA (YPFD AF) jumped 15 percent to 78.65 pesos and
earlier surged 19 percent, the most since March 2009. Mexican
billionaire Carlos Slim announced yesterday he now owns 8.4
percent of Argentina’s largest oil company.

Petrobras Argentina SA (PESA) advanced 9.8 percent to
5.29 pesos, the biggest increase in almost four years on a
closing basis. The unit of Brazil’s state-controlled oil
company, Petroleo Brasileiro SA, rallied as investors bought on
“cheap” valuations and as the announcement of Carlos Slim’s
stake in YPF was seen as a positive sign for the Argentine oil
sector, Ruben Pascuali, a trader and analyst at Buenos Aires-
based brokerage Mayoral Bursatil, said by phone today.

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

Comments

Leave a Reply

You must be logged in to post a comment.