Argentina Stocks: YPF, Cresud, Pampa Energia 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 of trading. The Merval (MERVAL) index rose 3.9 percent to 2,496.67.
YPF SA (YPFD) rose 6.2 percent to 90.25 pesos for the biggest advance on the Merval index. The Argentine state-run oil company rallied after a newspaper reported the company is seeking licenses to explore for crude in Bolivia.
Cresud SA (CRES AF), Argentina’s largest publicly traded farm company, rose 4.8 percent to 5.87 pesos, after soybeans jumped to a four-year high and corn resumed this month’s rally on signs that hot, dry weather during the next 10 days will prolong a Midwest drought and may cut output in the U.S., the world’s biggest producer.
Pampa Energia SA (PAMP) rose 5.2 percent to 1.21 pesos. The company has rallied 10 percent since it announced July 16 that Central Termica Loma de la Lata SA, an Argentine electricity generator owned by Pampa Energia, would buy back as much as $25 million of outstanding 2015 notes.
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