Jun
15
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 gained 3.8 percent to 2,273.02, its
biggest increase in more than five weeks.
Grupo Financiero Galicia SA (GGAL) rose 4.2 percent to
2.95 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 9.1 percent to 74.50 pesos, and
earlier gained as much as 20 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 11 percent to
5.34 pesos, the biggest increase in almost four years. 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
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