The following companies had unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 3:00 p.m. New York time.
The Merval Index rose 2 percent to 3,434.40.
Grupo Financiero Galicia SA (GGAL AF) increased 4.7 percent to 6.69 pesos, the largest advance in almost a month for Argentina’s largest consumer lender, as European policy makers extended an emergency loan program in an effort to stem concerns that the region’s debt crisis will worsen.
Empresa Distribuidora y Comercializadora Norte SA (EDN AF), the Argentine electricity distributor known as Edenor, rose 3.8 percent to 2.77 pesos, its third straight day of gains. Argentine utility stocks have increased in recent sessions on speculation of an increase in tariffs next year, Mariano Tavelli, president of Buenos Aires-based brokerage Tavelli y Cia., said in a telephone interview today.
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