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Argentine Stocks: Banco Macro, Galicia, Juan Minetti, Telecom

Dec. 14 (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 fell 2.7 percent to 2,408.43.

Banco Macro SA (BMA AF), Argentina’s largest lender by market share, dropped 2.7 percent to 9.1 pesos, its fifth day of losses. Argentine bank employees will ask banks to distribute 10 percent of their profits among workers as part of 2012 wage negotiations, El Cronista reported.

Grupo Financiero Galicia SA (GGAL AF), the country’s largest consumer lender, fell 4.6 percent to 2.9 pesos, its lowest price since August 2010.

Juan Minetti SA (JMIN AF) closed unchanged at 4.8 pesos, with more than 8 times the average volume of the last three months. The Argentine cement producer announced it will pay 70.4 million pesos ($16.4 million) in anticipated dividends, according to a statement posted yesterday on the website of the Buenos Aires stock exchange.

Telecom Argentina SA (TECO2 AF) dropped 3.6 percent to 17.35 pesos. The Argentine telephone operator awarded a services contract worth 2.4 million euros ($3.1 million) to its controller Telecom Italia SpA, according to a statement posted yesterday on the website of the Buenos Aires stock exchange.

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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