Argentine Stocks: Petrobras Argentina, BBVA Banco Frances
The following companies are having unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 3:17 p.m. in Buenos Aires.
The Merval (MERVAL) Index fell 0.9 percent to 2,723.32.
BBVA Banco Frances SA (FRAN) , the local unit of Spain’s Banco Bilbao Vizcaya Argentaria SA, rose 1 percent to 9.70 pesos. The bank reported “good results” in the fourth quarter on loan growth and better performance for government debt, said Walter Chiarvesio, an analyst at Banco Santander SA, who has a “hold” recommendation on the stock.
Petrobras Argentina SA (PESA) (PESA AF), the local unit of Brazil’s state-controlled oil company Petroleo Brasileiro SA, dropped 0.8 percent to 7.14 pesos. The company reported “very weak” fourth-quarter results, with a net loss of $20.7 million, Santander said today in an e-mailed research note.
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