Argentine Stocks: Soc. Comercial del Plata and YPF Are Active
The following companies are having unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 12:42 p.m. in Buenos Aires.
The Merval (MERVAL) Index rose 0.2 percent to 2,754.79.
Soc. Comercial del Plata SA (COME AF), an Argentine holding company, advanced 2.1 percent to 0.79 pesos and earlier rose 6.5 percent, 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.
YPF SA (YPFD) , a unit of Spain’s Repsol-YPF SA (REP), fell 2.7 percent to 142 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 firstname.lastname@example.org
To contact the editor responsible for this story: David Papadopoulos at email@example.com