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Argentine Stocks: Banco Macro, Boldt, Galicia and Edenor

July 5 (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 1.9 percent to 2,381.00.

Banco Macro SA (BMA AF), Argentina’s largest lender by market share, slumped 7.3 percent to 8.24 pesos, its biggest drop since October on a closing basis. Bank stocks fell today after the government said it plans to force financial institutions to provide loans for corporate investments.

Grupo Financiero Galicia SA (GGAL AF), Argentina’s largest consumer lender, retreated 5.5 percent to 2.94 pesos, while BBVA Banco Frances SA (FRAN AF) fell 5 percent to 7.55 pesos.

Boldt SA (BOLT AF), an Argentine information technology services company, advanced 3.4 percent to 2.15 pesos, its highest price in four weeks on a closing basis. Boldt said in a statement posted on the website of the stock exchange that the government of the City of Buenos Aires had approved its plan to acquire the stake it didn’t own in a joint venture that processes and manages fines for the city.

Empresa Distribuidora & Comercializadora Norte SA (EDN AF) jumped 8.5 percent to 0.77 peso, its biggest increase in eight weeks. Argentine regulators adjusted electricity rates charged by Edenor and its peer Empresa Distribuidora Sur SA for winter, according to today’s official gazette. Edenor and Edesur will charge rates approved in a 2009 regulation of electricity use.

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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