The following companies are having unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 2:52 p.m. in Buenos Aires.
The Merval (MERVAL) Index rose 0.1 percent to 2,773.36.
Financial company shares rose in line with emerging market stocks on speculation China is loosening monetary policy and as Hungary said it’s open to any deal with the International Monetary Fund.
Banco Macro SA (BMA) (BMA AF), Argentina’s largest lender by market share, climbed 2.8 percent to 11.10 pesos.
Banco Patagonia SA (BPAT) (BPAT AF) increased 1.2 percent to 3.39 pesos.
Telecom Argentina SA (TECO2) (TECO2 AF) fell 2.2 percent to 18 pesos. The Argentine telephone operator was rated new “equal weight” at Barclays Capital Plc, while its holding company, Nortel Inversora S.A., was rated “underweight.”
Source: Bloomberg