Argentine Stocks: Comercial del Plata, Pampa Energia Are Active
The following companies are having unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 1:21 p.m. in Buenos Aires.
The Merval (MERVAL) Index rose 1 percent to 2,668.94.
Soc. Comercial del Plata SA (COME AF) advanced 2.9 percent to 0.90 pesos, its fourth day of gains. The Argentine holding company is rising on speculation it may leave bankruptcy protection, Carlos Aszpis, an equity strategist at Buenos Aires based Schweber & Cia, said in an interview. The company reported losses of 380 million pesos ($87.4 million) in 2011, up from a 50.7 million-peso loss in 2010, according to a statement posted yesterday on the website of the Buenos Aires stock exchange.
Pampa Energia SA (PAMP) dropped 2 percent to 1.92 pesos. Argentina’s largest electricity group has fallen as much as 6.4 percent in the last three days. It reported March 9 a net loss of 931 million pesos in 2011, compared with a loss of 46.6 million pesos in 2010.
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