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Argentine Stocks: Metrogas, Petrobras Argentina and YPF

Jan. 17 (Bloomberg) -- 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 Index rose 1.1 percent to 2,784.90.

Metrogas SA (METR AF) advanced 3.4 percent to 0.93 pesos. Argentina won a U.S. appeals court decision throwing out a $185 million award to BG Group Plc, which claimed the country’s freeze on natural gas prices caused the bankruptcy of Metrogas, a local gas distributor it controlled.

Petrobras Argentina SA (PESA AF) increased 6.8 percent to 6.95 pesos, its biggest increase since July 2009. The unit of Brazil’s Petroleo Brasileiro SA rose today as the stock has been “overly punished” and as investors considered that the government’s announcement of an investigation into fuel prices in the country would not affect profitability, Ruben Pascuali, an analyst at Mayoral Bursatil, said in an interview.

YPF SA (YPFD AF) gained 4.6 percent to 172 pesos. Raymond James reiterated an “outperform” recommendation for Argentina’s largest oil company after it increased diesel prices in the country between 2 percent and 4 percent, according to an e-mailed note to clients.

To contact the reporter on this story: Eduardo Thomson in Santiago at ethomson1@bloomberg.net

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

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