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 2.6 percent to 2,711.94.
Grupo Financiero Galicia SA (GGAL AF) gained 5.5 percent to 3.48 pesos, its biggest increase in almost two weeks. Argentina’s largest consumer finance company jumped in the last hour of trading, in line with U.S. stocks, after the Federal Reserve raised its assessment of the economy and JPMorgan Chase & Co. increased its dividend.
Soc. Comercial del Plata SA (COME AF) advanced 2.6 percent to 0.898 pesos, its fourth day of gains. The Argentine holding company is rising on speculation it may leave bankruptcy protection, Carlos Aszpis, an equity strategist at Buenos Aires-based Schweber & Cia, said in an interview. The company reported losses of 380 million pesos ($87.3 million) in 2011, up from a 50.7 million-peso loss in 2010, according to a statement posted yesterday on the website of the Buenos Aires stock exchange.
Pampa Energia SA (PAMP AF) dropped 1 percent to 1.94 pesos. Argentina’s largest electricity group has fallen 4.4 percent in the last three days. It reported March 9 a net loss of 931 million pesos in 2011, compared with a loss of 46.6 million pesos in 2010.