Bloomberg News

Argentine Stocks: Grupo Galicia, BBVA Banco Frances, Cresud

February 03, 2012

Feb. 3 (Bloomberg) -- The following companies are having unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 2:03 p.m. in Buenos Aires.

The Merval Index rose 0.6 percent to 2,835.71.

Argentine stocks climbed as the U.S. jobless rate unexpectedly fell in January to the lowest level in three years, adding to signs that the world’s largest economy is strengthening.

BBVA Banco Frances SA (FRAN AF), the local unit of Spain’s Banco Bilbao Vizcaya Argentaria SA, jumped 2.4 percent to 9.83 pesos. Grupo Financiero Galicia SA (GGAL AF), Argentina’s largest consumer lender, advanced 1.4 percent to 3.62 pesos.

Cresud SA (CRES AF), the Argentine agricultural real estate company rose 1.7 percent to 6.15 pesos, the highest level since September. Record-high cattle and beef prices may extend their gains this year, researcher CattleFax said today.

--Editor: Lester Pimentel

To contact the reporter on this story: Christine Jenkins in New York at cjenkins28@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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