Argentine Stock Movers: Banco Santander Rio, Molinos, Tenaris

The following companies had unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 3:01 p.m. New York time.

The Merval Index gained 1.6 percent to 3,601.45.

Banco Santander Rio SA (BRIO6 AF) rose 8 percent to 10 pesos, the steepest increase in two months. The local unit of Spain’s Banco Santander SA gained in line with its controller, which rose 9.6 percent in Madrid after Portugal sold 599 million euros ($786.5 million) of 10-year bonds, spurring speculation that the European Union will increase its efforts to contain the region’s debt crisis.

Molinos Rio de la Plata (MOLI AF), a soy processor and food company, increased 5.1 percent to 36 pesos. Soybean prices rose 4.3 percent in Chicago after the U.S. government cut its forecasts of inventories, signaling tighter food supplies.

Tenaris SA (TS AF) gained 2.2 percent to 98.3 pesos, the most in three weeks. The world’s largest producer of seamless steel tubes used in the oil industry rose in line with crude prices, which reached a 27-month high today in New York.

To contact the reporter on this story: Eduardo Thomson in Santiago at ethomson1@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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