Bloomberg News

Argentine Stock Movers: Banco Macro and YPF Were Active

March 15, 2012

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 rose 1.3 percent to 2,744.09.

Banco Macro SA (BMA) advanced 3.1 percent to 10.25 pesos, the biggest increase in a month. Argentina’s largest lender by market share rose in line with global equities, as reports on manufacturing and jobless claims in the U.S. bolstered optimism about the economy.

YPF SA (YPFD) added 4.2 percent to 138 pesos, its biggest increase in two weeks. Argentina’s largest oil company is rising as local and foreign investment funds repurchase the stock after a recent sell-off caused by political uncertainty, Mariano Tavelli, president of Buenos Aires-based brokerage Tavelli & Cia, said in a telephone interview. The provinces of Chubut and Santa Cruz yesterday pulled four oilfield licenses, saying YPF hasn’t invested enough.

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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