Argentine Stocks: Banco Frances, Tenaris 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 market close in Buenos Aires. The Merval index rose 3.5 percent to 2,346.68, and is down 4.7 percent in the first half of the year.
BBVA Banco Frances SA (FRAN) gained 4.2 percent to 7.50 pesos. The local unit of Spain’s Banco Bilbao Vizcaya advanced after European leaders relaxed terms on loans to Spanish banks.
Tenaris SA (TEN) increased 5.1 percent to 113.5 pesos, its third day of gains. The world’s largest producer of seamless steel tubes used in the oil industry rose in line with the price of crude.
YPF SA (YPFD) advanced 2.5 percent to 81.5 pesos. Argentina’s largest energy company said it plans to pay off a $125 million loan to Repsol SA after the Spanish company sought immediate reimbursement following YPF’s nationalization.
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