Argentina Stocks: Siderar SAIC, Telecom Argentina Increase

The following companies are having unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 3:06 p.m. in Buenos Aires.

The Merval (MERVAL) Index increased 1.8 percent to 2,837.52.

Argentine stocks rose in line with global equities after U.S. manufacturing grew at the fastest pace since June. China’s manufacturing output unexpectedly rose.

Siderar SAIC (ERAR) , Argentina’s largest steelmaker, advanced 6.1 percent to 25.30 pesos and was on track for its biggest gain since Nov. 30.

Telecom Argentina SA (TECO2) (TECO2 AF), the Argentine telephone operator, rose 3.9 percent to 20.15 pesos. Cell phone calls nationwide increased 24.9 percent in December compared to the same month a year earlier, the national statistics institute reported yesterday in a release on its website.

To contact the reporter on this story: Christine Jenkins in New York at cjenkins28@bloomberg.net

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

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