Argentine Stocks: Banco Macro, Cresud and Tenaris Advance
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 0.1 percent to 2,679.19.
Banco Macro SA (BMA) rose 2 percent to 10.05 pesos. Argentina’s largest lender by market share gained in line with U.S. markets, which increased on higher-than-expected retail sales and speculation that Italian Premier Minister-designate Mario Monti will succeed in forming a government.
Cresud SA (CRES AF) jumped 6.5 percent to 5.75 pesos, its steepest increase in five weeks. The Argentine agricultural real estate company has gained 7.5 percent in the last two days after its indirect unit Alto Palermo SA (APSA), a shopping mall operator, announced Nov. 11 a 17 percent increase in quarterly profit and that it would pay 117 million pesos ($27.4 million) in dividends.
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