Argentine Stocks: Molinos Rio de la Plata SA and Siderar Gain

The following companies had unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of the close in Buenos Aires. The Merval Index rose 1.1 percent to 2,880.78.

Molinos Rio de la Plata (MOLI) SA rose 4.8 percent to 32.9 pesos, its highest price in more than 15 weeks. Argentina’s largest food company led gains among members of the Merval index and advanced in line with global stocks, which rose after Europe reached an agreement to recapitalize banks and U.S. economic reports surpassed forecasts.

Siderar SAIC (ERAR) increased 3.5 percent to 26.3 pesos, its highest price in almost eight weeks. Argentina’s largest steel producer increased on speculation that China may lower interest rates, boosting metal demand.

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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.