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Argentine Stocks: Central Puerto, Grupo Galicia, YPF Were Active

Feb. 28 (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 fell 2.9 percent to 2,682.09. The stock market was closed yesterday for a holiday.

Central Puerto SA (CEPU2 AF) fell 9.8 percent to 18.9 pesos, the biggest fall in 26 months. The Argentine power generator reported today net income of 232 million pesos ($53 million) in 2011, down from 248 million pesos a year earlier, according to a statement posted on the website of the Buenos Aires exchange.

Grupo Financiero Galicia SA (GGAL AF), Argentina’s largest consumer lender, retreated 3.7 percent to 3.37 pesos, its third day of losses. Consumer confidence fell 8.2 percent in February from January, according to a poll yesterday from Torcuato di Tella University.

YPF SA (YPFD AF), Argentina’s largest oil company, fell 7.5 percent to 147 pesos, the lowest since June 2010. Shares are dropping on concern that the company may reduce its dividend payment amid government pressure to spend more on production, Carlos Aszpis, equity strategist at Buenos Aires-based brokerage Schweber & Cia., said in an interview.

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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