Bloomberg News

Argentine Stocks: Grupo Galicia, Petroleo Brasileiro and Tenaris

October 20, 2011

Oct. 20 (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 2,737.72.

Grupo Financiero Galicia SA (GGAL AF) gained 1.6 percent to 4.48 pesos. The country’s largest consumer lender rose in line with the performance of U.S. equity markets as European governments discussed deploying $1.3 trillion in funds to tame the sovereign crisis.

Other lenders also rose. Banco Patagonia SA (BPAT AF) gained 4.7 percent to 4.5 pesos, and Banco Hipotecario SA (BHIP AF) increased 1.6 percent to 1.85 pesos.

Tenaris SA (TS AF) fell 1.2 percent to 68.5 pesos, its second day of losses. The world’s largest producer of seamless steel tubes used in the oil industry declined in line with crude oil prices.

Petroleo Brasileiro SA (APBR AF), Brazil’s state-controlled oil company, retreated 2.1 percent to 56.7 pesos.

--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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