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.

To contact the reporter on this story: Camila Russo in Buenos Aires at crusso15@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.