Argentine Stocks: Banco Hipotecario SA and YPF SA Increase
The following companies are having unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 12:46 p.m. in Buenos Aires.
The Merval (MERVAL) Index rose 0.4 percent to 2,732.52.
Banco Hipotecario SA (BHIP) jumped 3.8 percent to 1.63 pesos, its biggest gain on a closing basis in more than a month. The lender reported today that fourth-quarter earnings climbed 372 percent to 130 million pesos ($30 million).
YPF SA (YPFD) rose 1.9 percent to 165 pesos and was the most active stock today by value in Buenos Aires with 5.8 million pesos changing hands. The gain in Argentina’s largest oil company stems from its Feb. 8 announcement of higher shale oil reserves at its Vaca Muerta formation, Juan Jose Vasquez, an analyst at Buenos Aires-based brokerage firm Bull Market Brokers, said in a phone interview.
To contact the reporter on this story: Eduardo Thomson in Santiago at email@example.com
To contact the editor responsible for this story: David Papadopoulos at firstname.lastname@example.org