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Argentine Stocks: Comercial del Plata, Siderar, YPF Were Active

March 2 (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 0.3 percent to 2,757.30.

Soc. Comercial del Plata SA (COME AF), an Argentine holding company, advanced 5.2 percent to 0.81 pesos, its fourth day of gains. The company said in a filing yesterday to the Buenos Aires exchange that a prosecutor didn’t file an appeal to a debt restructuring ruling before a deadline. This will allow Comercial del Plata to move forward on its talks with bondholders, Guillermo Maresco, a trader at Buenos Aires-based brokerage Nacion Bursatil, said in a telephone interview.

Siderar SAIC (ERAR AF) jumped 9.4 percent to 23.95 pesos, its biggest increase in more than four months. Argentina’s largest steel producer will distribute March 12 a dividend in new shares. Current shareholders will receive 12 new shares for each they currently own, according to a statement posted on the website of the Buenos Aires stock exchange.

YPF SA (YPFD AF), a unit of Spain’s Repsol-YPF SA, fell 2.4 percent to 142.5 pesos. A nationalization of Argentina’s largest energy company is unlikely and the company will probably increase investments and decrease dividends, Banco Itau BBA SA analysts Ricardo Cavanagh and Paula Kovarsky wrote in a note to clients.

To contact the reporter on this story: Eduardo Thomson in Santiago at

To contact the editor responsible for this story: David Papadopoulos at

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