Bloomberg News

Argentine Stocks: Caputo, Financiero Galicia, Pampa Energia

October 19, 2011

Oct. 19 (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 rose 0.1 percent to 2,735.15.

Caputo SA (CAPU AF) increased 7.2 percent to 4.45 pesos, the steepest increase in a week. The Argentine builder company was awarded two construction contracts worth 50 million pesos ($12 million), according to a statement posted on the website of the Buenos Aires exchange.

Grupo Financiero Galicia SA (GGAL AF) retreated 1.6 percent to 4.41 pesos. Argentina’s largest consumer lender fell in line with global stocks, which erased gains after a split emerged between France and Germany on ways to boost the European bailout fund, while the Federal Reserve grew more pessimistic about the economy.

Pampa Energia SA (PAMP AF) rose 4.3 percent to 2.40 pesos, the steepest increase in a week. Argentina’s largest energy holding company rose on speculation that the government may allow electricity rates to rise after the presidential election of Oct. 23, Guillermo Maresco, a trader at brokerage firm Nacion Bursatil, said in a phone interview today.

--Editors: Glenn J. Kalinoski, Marie-France Han

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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