Bloomberg News

Argentine Stocks: Grupo Galicia, YPF Advance; Metrogas Falls

December 29, 2011

Dec. 29 (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 rose 1.5 percent to 2,462.63.

Grupo Financiero Galicia SA (GGAL AF) rose 4 percent to 2.86 pesos. Argentina’s largest consumer lender rose in line with global markets, which advanced as housing and labor data in the U.S. signaled the world’s largest economy is weathering Europe’s sovereign debt crisis.

Other banks also rose, with Banco Hipotecario SA (BHIP AF) advancing 5.7 percent to 1.48 pesos and BBVA Banco Frances SA (FRAN AF) gaining 4.6 percent to 7.95 pesos.

Metrogas SA (METR AF) fell 6.8 percent to 0.69 pesos. The Argentine natural gas distribution company has fallen 23 percent this week after YPF SA, Argentina’s largest energy company, said Dec. 23 it won’t exercise an option to buy shares of Gas Argentino SA, Metrogas’s holding company, from BG Group.

YPF SA (YPFD AF) advanced 2 percent to 167.55 pesos, its highest closing price since Nov. 16. Argentina’s largest energy company rose in line with its controller Repsol YPF SA, which announced today the acquisition of Eurotek, a Russian exploration and production company.

--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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