Bloomberg News

Argentine Stocks: Grupo Galicia, Telecom Argentina and Tenaris

October 11, 2011

Oct. 11 (Bloomberg) -- The following companies had unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 5:02 p.m. in Buenos Aires.

The Merval Index rose 4.5 percent to 2,429.56. The market was closed yesterday for a holiday.

Grupo Financiero Galicia SA (GGAL AF) rose 6.6 percent to 3.88 pesos, its biggest advance in nine weeks. The gains in Argentina’s largest consumer lender today followed a surge in emerging-market stocks yesterday, when markets were closed in Buenos Aires.

Telecom Argentina SA (TECO2 AF) rose 4.3 percent to 17 pesos. Argentina’s second-largest telephone company gained today following a 6.3 percent jump in the price of its American depositary receipts in New York yesterday after Germany and France said they plan to take new measures to contain the European debt crisis.

Tenaris SA (TS AF) rose 3.2 percent to 63.35 pesos, its highest price in three weeks. The world’s largest producer of seamless steel tubes used in the oil industry gained in Buenos Aires following a 4.7 percent increase yesterday in New York.

--Editors: Glenn J. Kalinoski, David Papadopoulos

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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