Argentine Stocks: Hipotecario, Holcim Argentina, Tenaris and YPF
The following companies had unusual price changes in Argentine trading. Stock symbols are in parentheses, and share prices are as of the close in Buenos Aires. The Merval (MERVAL) index retreated 1.3 percent to 2,151.14.
Banco Hipotecario SA (BHIP AF) jumped 7.9 percent, the biggest rally in five weeks, to 1.23 pesos. The lender, which specializes in mortgages, rose after the Argentine government announced yesterday a program to build 400,000 homes in four years.
Holcim Argentina SA (JMIN) , a cement producer, advanced 7.9 percent, the biggest increase in almost five months, to 3.40 pesos.
Tenaris SA (TEN) fell 1.4 percent to 102.60 pesos. The world’s largest producer of seamless steel tubes used in the oil industry fell in line with the price of oil, according to Guillermo Maresco, a trader at Buenos Aires-based brokerage Nacion Bursatil.
YPF SA (YPFD) retreated 2.1 percent to 66.50 pesos, its fourth day of losses. Argentina’s largest oil company had its global local currency credit rating cut by Moody’s Investors Service yesterday to Caa1 from B3.
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