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Argentine Stocks: Aluar, Cresud, Siderar and YPF Were Active

May 24 (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 advanced 2.3 percent to 2,340.26.

Aluar Aluminio Argentino SAIC (ALUA AF) gained 6.2 percent to 2.73 pesos in its fourth day of gains. Argentina’s largest aluminum producer climbed after base-metal prices increased.

Siderar SAIC (ERAR AF), the country’s largest steel producer, rose 9.3 percent to 1.65 pesos, its biggest gain in more than 11 weeks.

Cresud SACIFYA (CRES AF) fell 3.5 percent to 4.66 pesos with approximately 1.1 million pesos ($246,000) changing hands, more than 12 times the daily average of the past three months. The Argentine producer of agricultural products announced the sale of 115 hectares of land to its unit Alto Palermo SA for $8.96 million, according to a statement posted on the website of the Buenos Aires exchange.

YPF SA (YPFD AF) jumped 9.9 percent to 83 pesos, its biggest gain in almost three weeks. Argentina’s largest oil company will increase its gasoline production by 5 percent, or 15 million liters (3.9 million gallons) a month, the company said in an e-mailed statement today. The output boost is because of “a innovation process” that blends different types of crude oil, the company said.

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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