Argentine Stock Movers: Grupo Galicia Falls; Mirgor Advances
The following companies are having unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 1:13 p.m. in Buenos Aires.
The Merval (MERVAL) Index fell 0.1 percent to 2,483.17.
Grupo Financiero Galicia SA (GGAL) fell 0.6 percent to 3.1 pesos, its sixth day of losses. Argentina’s largest consumer lender had its recommendation cut yesterday to “underweight” from “buy” at Banco Santander SA.
Mirgor SACIFIA (MIRG) rose 6 percent to 63.6 pesos, and earlier gained 7.3 percent, the most in two months. The Argentine producer of automobile air conditioning systems is gaining as investors are buying the stock in anticipation of a Dec. 16 deadline to participate in a 2 million pesos rights issuance, Marcelo Olguin, chief economist at Buenos Aires-based brokerage firm SBS Soc. de Bolsa, said in a telephone interview.
To contact the reporter on this story: Eduardo Thomson in Santiago at firstname.lastname@example.org
To contact the editor responsible for this story: David Papadopoulos at email@example.com