Bloomberg News

Argentina Stock Movers: Banco Macro, BBVA, Edenor Were Active

June 11, 2012

The following companies had unusual price changes in Argentine trading. Stock symbols are in parentheses, and share prices are as of the market close in Buenos Aires. The Merval (MERVAL) Index fell 0.9 percent to 2,179.53.

Banco Macro SA (BMA) dropped 3.5 percent to 7.55 pesos. Argentina’s largest lender by market share fell after newspaper El Cronista reported Argentine President Cristina Fernandez de Kirchner will decide in coming days whether to support legislation that would force all financial transactions to be carried out in pesos. BBVA Banco Frances SA (FRAN) slid 3.4 percent to 7 pesos.

Empresa Distribuidora & Comercializadora Norte SA (EDN AF) fell 2 percent to 0.676 peso. Argentina’s largest power distributor fell for a second day after Standard & Poor’s cut its corporate credit rating to CCC from CCC+.

To contact the reporter on this story: Camila Russo in Buenos Aires (GALI) at crusso15@bloomberg.net

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


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