Bloomberg News

Argentine Stocks: Aluar Aluminio, BBVA Banco Frances and IRSA

December 06, 2011

Dec. 6 (Bloomberg) -- 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 Index fell 0.9 percent to 2,615.58.

Aluar Aluminio Argentino SA (ALUA AF) fell 1.2 percent to 3.43 pesos, the first decline in a week. Argentina’s largest aluminum producer will pay 25 million pesos ($5.8 million) in dividends, according to a statement posted today on the website of the Buenos Aires stock exchange.

BBVA Banco Frances SA (FRAN AF) dropped 2.9 percent to 8.35 pesos, the biggest decline in two weeks. The local unit of Spain’s Banco Bilbao Vizcaya Argentaria SA fell in line with European markets after Standard & Poor’s put 15 euro-area nations on watch for a potential rating downgrade.

IRSA Inversiones & Representaciones SA (IRSA AF) jumped 5.9 percent to 5 pesos. Argentina’s largest real estate developer gained 14 percent in the past two days after chairman Eduardo Elsztain said that it’s considering investment opportunities in Europe, Mariano Tavelli, president of Buenos Aires-based brokerage firm Tavelli & Cia, said in a phone interview.

--Editors: Richard Richtmyer, Marie-France Han

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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