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Argentina Stocks: Banco Macro, Soc. Comercial and Tenaris

Nov. 11 (Bloomberg) -- 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 2.2 percent to 2,751.67.

Banco Macro SA (BMA AF) gained 4 percent to 10.4 pesos, its second day of gains. Argentina’s largest lender by market share rose in line with global equity markets, which advanced after U.S. consumer confidence improved and Europe took steps to address its debt crisis.

Soc. Comercial del Plata SA (COME AF) rose 7 percent to 0.63 pesos, the biggest gain in 11 weeks. The Argentine holding company posted a 4.7 percent increase in sales to 472 million pesos ($111 million) and positive earnings before interest, tax, depreciation and amortization of 27.6 million pesos in the fiscal year to Sept. 30, according to a statement on the website of the Buenos Aires exchange.

Tenaris SA (TS AF) gained 3.1 percent to 85.6 pesos, the biggest gain in a week. The world’s largest producer of seamless steel tubes used in the oil industry rose in line with crude prices, which increased on speculation that signs of U.S. economic growth and Europe’s efforts to contain the debt crisis will boost fuel 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

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