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Argentine Stocks: Molinos Rio de la Plata, Siderar SAIC Decline

The following companies had unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 5 p.m. New York time.

The Merval Index rose 0.5 percent to 3,164.97.

Molinos Rio de la Plata (MOLI) SA, the Argentine food company and soy processor that gets most of its revenue from markets outside of Argentina, declined 1.9 percent to 25.90 pesos. Shares have fallen 12 percent in three days. Molinos had risen 103 percent in the year prior to May 31.

Siderar SAIC (ERAR) , Ternium SA (TX)’s Argentine unit, dropped 0.7 percent to 28.20 pesos after the government declined a request by the country’s largest steel producer to set anti- dumping levies on steel imports from Brazil, Russia and Ukraine, according to the El Cronista newspaper, which cited unnamed sources. Ternium and the Argentine government are in a legal fight over the government’s shareholder rights in Siderar, in which it holds a 26 percent stake, the newspaper said.

To contact the reporter on this story: Leon Lazaroff in New York at llazaroff@bloomberg.net

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

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