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Argentine Stocks: Grupo Galicia, Ledesma, Molinos Increase

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Aug. 9 (Bloomberg) -- The following companies had unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 4:20 p.m. New York time.

The Merval Index rose 4.6 percent to 2,864.02, its biggest one-day advance since May 2010. All 19 stocks in the gauge gained.

Grupo Financiero Galicia SA (GGAL AF), Argentina’s largest consumer lender, rose 8.7 percent to 5.40 pesos. The price of Argentine dollar-denominated government bonds increased today, which signals greater value for banks’ fixed-income holdings. Banco Macro SA (BMA AF), Argentina’s largest lender by market value, advanced 8.1 percent to 13.40 pesos.

Ledesma SAAI (LEDE AF), the Argentine sugar producer, climbed 4.2 percent to 7.40 pesos. Sugar for October delivery climbed 0.51 cent, or 1.9 percent, to 27.49 cents a pound, breaking a two-day losing streak.

Molinos Rio de la Plata SA (MOLI AF), which produces, distributes and exports food, gained 4.5 percent to 27.75 pesos. Wheat and corn futures gained on the Chicago Board of Trade. About two-thirds of Molinos’s revenue comes from exports, according to data compiled by Bloomberg.

To contact the reporter on this story: Bryan Gibel in New York at bgibel@bloomberg.net

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