Argentine Stocks: Banco Macro, Central Puerto, 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 index advanced 0.6 percent to 2,134.85.
Banco Macro SA (BMA) , Argentina’s largest lender by market share, advanced 1.9 percent to 8.15 pesos, ending a four- day losing streak. Argentine stocks rebounded “after four very nasty days,” Adrian Mayoral, an analyst and trader at Buenos Aires-based brokerage Mayoral Bursatil, said in a phone interview today. “There are expectations that the recovery may continue next week as well.” The Merval dropped 7.9 percent during the first four days of this week.
YPF SA (YPFD) , Argentina’s largest oil company, fell 2.6 percent to 73.50 pesos, its sixth consecutive day of losses and its longest losing streak in 11 months. Credit Suisse Group AG said the overdue tranche of a $1 billion loan to Argentina’s Petersen Group backed by a stake in YPF is “payable immediately.” Credit Suisse sent the warning to the company yesterday, according to a YPF filing to the U.S. Securities and Exchange Commission.
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