Bloomberg News

Argentine Stocks: Banco Macro, Molinos and Petroleo Brasileiro

December 01, 2011

Nov. 30 (Bloomberg) -- The following companies are having unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 11:54 a.m. in Buenos Aires.

The Merval Index rose 3.6 percent to 2,539.88.

Banco Macro SA (BMA AF) gained 3 percent to 9.15 pesos and earlier rose 5.3 percent, the most in three weeks. Argentina’s largest lender by market share plans to open six more branches in the country before the end of the year, Buenos Aires-based newspaper Cronista said.

Molinos Rio de La Plata SA (MOLI AF) gained 5.1 percent to 31 pesos. Argentina’s largest food company has increased up to 13 percent in the last two days after the government announced yesterday it would authorize an increase of $540 million in wheat export quotas.

Petroleo Brasileiro SA (APBR AF) jumped 4.4 percent to 61.5 pesos. Brazil’s state-controlled oil company rose after reporting a new off-shore oil discovery.

--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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