Bloomberg News

Argentine Stocks: Grupo Financiero Galicia, Tenaris and YPF

December 15, 2011

Dec. 15 (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 0.3 percent to 2,401.43.

Grupo Financiero Galicia SA (GGAL AF) increased 0.7 percent to 2.92 pesos, ending a seven-day losing streak. Argentina’s largest consumer lender rose in line with global markets, as data signaled that the U.S. economy is strengthening.

Tenaris SA (TS AF), the world’s largest producer of seamless steel tubes used in the oil industry, advanced 0.8 percent to 80.5 pesos. The Techint Group, Tenaris’s controller, will invest $550 million in Argentina next year, newspaper El Cronista said yesterday, citing the holding company’s president, Paolo Rocca.

YPF SA (YPFD AF) fell 1.3 percent to 154 pesos. Goldman Sachs initiated coverage yesterday of Argentina’s largest oil company with a “sell” rating.

--Editor: Brendan Walsh

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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