Argentine Stocks: Banco Hipotecario, Petrobras Argentina and YPF
The following companies are having unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 1 p.m. in Buenos Aires.
The Merval (MERVAL) Index rose 1.1 percent to 2,785.04.
Banco Hipotecario SA (BHIP) advanced 2.4 percent to 1.73 pesos. The Argentine lender rose in line with global stocks on bets that slowing growth in China will lead to easing monetary policy.
YPF SA (YPFD) gained 4 percent to 171 pesos. Raymond James reiterated an “outperform” recommendation for Argentina’s largest oil company after it increased diesel prices in the country between 2 percent and 4 percent, according to an e-mailed note to clients.
Petrobras Argentina SA (PESA) , a unit of Brazil’s Petroleo Brasileiro SA and which also distributes fuel, increased 4.6 percent to 6.81 pesos.
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