Argentine Stock Movers: Pampa Energia, Telecom, YPF Are Active
The following companies are having unusual price changes in Argentine trading. Stock symbols are in parentheses, and share prices are as of 1:25 p.m. in Buenos Aires. The Merval (MERVAL) Index declined 1.1 percent to 2,246.30.
Telecom Argentina SA (TECO2 AF) tumbled 6.2 percent to 15.15 pesos. Shares of Argentina’s largest telecommunications company fell on speculation the government may be seeking to nationalize more public service companies after announcing the takeover of YPF SA (YPFD), according to Roberto Drimer, director of Vatnet Financial Research in Buenos Aires.
Pampa Energia SA (PAMP) , Argentina’s largest electricity group, dropped 2.9 percent to 1.35 pesos.
YPF SA (YPFD AF), Argentina’s biggest energy company, rose 1.3 percent to 77 pesos before today’s debate on President Cristina Fernandez de Kirchner’s bill in the country’s lower house to nationalize 51 percent of the company.
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