Argentine Stocks: Banco Macro, Molinos, Petrobras and Siderar

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 (MERVAL) Index rose 4.5 percent to 2,562.85.

Banco Macro SA (BMA) gained 4.2 percent to 9.25 pesos, the most in three weeks. Argentina’s largest lender by market share plans to open six more branches in the country before the end of the year, Buenos Aires-based newspaper Cronista said.

Molinos Rio de La Plata (MOLI) SA gained 5.8 percent to 31.2 pesos. Argentina’s largest food company increased 13 percent in the last two days after the government announced yesterday it would authorize an increase of $540 million in wheat export quotas.

Petroleo Brasileiro SA (PETR4) jumped 4.8 percent to 61.7 pesos, the most in six weeks. Brazil’s state-controlled oil company rose after reporting a new off-shore oil discovery.

Siderar SAIC (ERAR) jumped 8 percent to 22.95 pesos, the biggest increase in seven weeks, leading gains among members of the benchmark Merval index. Argentina’s largest steelmaker may expand its plant in San Nicolas, Buenos Aires-based newspaper La Nacion wrote.

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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