Argentine Stock Movers: Banco Macro, Galicia and Pampa Energia
The following companies are having unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 10:33 a.m. New York time.
The Merval Index fell 0.4 percent to 3,421.26.
Argentine banks led losses among members of the Merval index after an unexpected increase in the unemployment rate in the U.S. raised concern that the global economic recovery is stalling.
Grupo Financiero Galicia SA (GGAL AF), Argentina’s largest consumer lender, fell 2.2 percent to 6.54 pesos, the steepest fall in a week. Banco Macro SA (BMA AF), Argentina’s largest lender by market value, retreated 1.9 percent to 20.60 pesos.
Pampa Energia SA (PAMP AF) rose 1.8 percent to 2.90 pesos, its third straight day of gains. Argentina’s largest energy holding company signed an agreement with Apache Energy SRL to invest in joint natural gas exploration and production in Argentina, according to a statement posted yesterday on the website of the Buenos Aires stock exchange.
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