Argentine Stocks: Banco Macro, Repsol and YPF Were Active

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 (MERVAL) index fell 0.9 percent to 2,357.67.

Banco Macro SA (BMA) rose 3.4 percent to 8.74 pesos, its biggest gain in three months. Local investors are buying local stocks after a recent slump as they are trading at “discount” prices, Juan Jose Vasquez, an analyst at Bull Market Brokers SA, said in an interview from Buenos Aires.

YPF SA (YPFD) , Argentina’s largest oil company, slumped a record 29 percent to 77.05 pesos. The government rejected Repsol YPF SA (REP)’s demand for $10.5 billion in compensation for the unit’s nationalization. The shares of Repsol YPF SA (REP AF) that trade in Buenos Aires lost 4.6 percent to 113 pesos.

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