The following companies are having unusual price changes in Argentine trading. Stock symbols are in parentheses, and share prices are as of 4:05 p.m. in Buenos Aires. The Merval (MERVAL) index advanced 0.8 percent to 2,218.21, ending a six-day losing streak.
Grupo Financiero Galicia SA (GGAL) rose 0.7 percent to 2.89 pesos after earlier advancing as much as 2.4 percent. Argentina’s largest consumer lender rose in line with global markets on speculation that European policy makers will take steps to revive the economy.
Tenaris SA (TS) advanced 2.1 percent to 97 pesos, ending a five-day losing streak. The world’s largest producer of seamless steel tubes used in the oil industry advanced in line with crude.
YPF SA (YPFD) gained 1.3 percent to 76.5 pesos and earlier jumped 5.8 percent, the most in two weeks. Argentina’s largest oil producer will invest $7 billion in 2013 as it plans to double exploration in five years and boost refining, Chief Executive Officer Miguel Galuccio said at a press conference in Buenos Aires yesterday.
To contact the reporter on this story: Eduardo Thomson in Santiago at email@example.com
To contact the editor responsible for this story: David Papadopoulos at firstname.lastname@example.org