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 advanced 1 percent to 2,221.52, ending a six-day losing streak.
Grupo Financiero Galicia SA (GGAL AF) rose 0.3 percent to 2.88 pesos and was the most active stock today, with 7.9 million pesos ($1.8 million) changing hands. Argentina’s largest consumer lender rose in line with global markets on speculation that European policy makers will take steps to revive the economy.
Molinos Rio de la Plata SA (MOLI AF) increased 2.9 percent to 23.25 pesos, a second day of gains. Argentina’s largest food company agreed to pay $2.5 million for a 25 percent stake in soybean oil processor and exporter Emulgrain SA, it said in a statement posted on the website of the Buenos Aires exchange.
Tenaris SA (TS AF) advanced 2.9 percent to 97.8 pesos, ending a five-day losing streak. The world’s largest producer of seamless steel tubes used in the oil industry advanced in line with the price of crude.
YPF SA (YPFD AF) gained 0.8 percent to 76.1 pesos. Argentina’s largest oil producer will invest $7 billion in 2013 as it plans to double exploration in five years and boost refining, Chief Executive Officer Miguel Galuccio said at a press conference in Buenos Aires yesterday.