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Argentine Stocks: Banco Hipotecario and Mirgor SACIFIA Retreat

The following companies are having unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 12:05 p.m. New York time.

The Merval Index retreated 2 percent to 2,244.89.

Banco Hipotecario SA (BHIP) fell 7.8 percent to 1.42 pesos, the most in almost two weeks. The price of Argentine sovereign bonds declined today, which signals lower value for banks’ fixed income holdings.

Mirgor SACIFIA (MIRG AF) slumped 8 percent to 69 pesos, its lowest price in almost a year. The Argentine auto parts manufacturer led losses among members of the Merval benchmark index, in line with global equity markets which fell on concern that European policy makers may renegotiate terms of Greece’s bailout, deepening concern about the impact of the debt crisis.

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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