Bloomberg News

Argentine Stocks: Cresud, Grupo Clarin, YPF Were Active

May 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 fell 0.9 percent to 2,214.05.

Cresud SACIFYA (CRES) dropped 9.3 percent to 4.90 pesos, the biggest decline in nine months. The Argentine agroindustrial producer and real estate holding company reported net income of 67.1 million pesos ($15.1 million) in the first quarter, down from 142 million pesos a year earlier, according to a statement on the website of the Buenos Aires exchange.

Grupo Clarin SA (GCLA AF) jumped 9.1 percent to 8.51 pesos. Argentina’s largest media group has gained 13 percent in the last two days, the steepest two-day gain since October 2010, after it said May 11 it would pay 135 million pesos in dividends.

YPF SA (YPFD) , Argentina’s largest oil company, retreated 0.5 percent to 82.50 pesos, its third day of losses. Repsol YPF SA (REP), Spain’s largest oil company, began legal action against Argentina to win compensation for the seizure of its majority stake in YPF.

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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