Argentine Stocks: Transener, Banco Hipotecario Fall; YPF Gains
The following companies had unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as the close of trading in Buenos Aires.
The Merval (MERVAL) Index fell 0.1 percent to 2,806.64.
Argentine stocks declined after the European market retreated amid concern the region’s debt crisis could worsen as Greek leaders wrestled with spending cuts to get aid and avert a default.
Cia de Transporte de Energia Electrica en Alta Tension Transener SA (TRAN AF), the operator of Argentina’s national power grid, declined 1.7 percent to 1.16 pesos. Banco Hipotecario SA (BHIP) (BHIP AF) dropped 3 percent to 1.61 pesos. Aluar Aluminio Argentino SAIC (ALUA) (ALUA AF), the country’s largest aluminum producer, fell 2.3 percent to 2.96 pesos.
YPF SA (YPFD) (YPFD AF), Argentina’s largest oil company, rose 0.7 percent to 154 pesos. The stock’s “recent sell-off offers an attractive entry point,” Emiliano Wachs, an analyst at Raymond James, said today in a research note.
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