Argentina Stocks: Petrobras, YPF, 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 0.2 percent to 2,502.54.
Petroleo Brasileiro SA (PETR4) rose 2.2 percent to 69.10 pesos after oil prices climbed to the highest in eight weeks on concern that instability in the Middle East will disrupt supplies from a region responsible for about 30 percent of world production.
YPF SA (YPFD) fell 2.4 percent to 88.10 pesos. U.S. oil producers are interested in investing in Argentina if the country passes a bill that allows them to transfer profit out of the country, Ambito Financiero reported yesterday. The Argentine government won’t be able to pass a bill allowing the companies to transfer profit before year-end, Ambito said.
Pampa Energia SA (PAMP) was unchanged at 1.21 pesos at the close of trading, after rising 1.7 percent earlier in the day. The company announced an agreement relating to the debt restructuring of Compania de Inversiones en Energia SA late last night.
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