Bloomberg News

Argentine Stocks: Banco Macro, Galicia and Boldt Are Active

July 05, 2012

The following companies are having unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 3:49 p.m. in Buenos Aires. The Merval (MERVAL) index fell 2.4 percent to 2,369.11.

Banco Macro SA (BMA) , Argentina’s largest lender by market share, slumped 7.2 percent to 8.25 pesos, its biggest drop since October on a closing basis. Bank stocks fell today after the government said it plans to force financial institutions to provide loans for corporate investments.

Grupo Financiero Galicia SA (GGAL) , Argentina’s largest consumer lender, retreated 5.1 percent to 2.95 pesos, while BBVA Banco Frances SA (FRAN) fell 5 percent to 7.55 pesos.

Boldt SA (BOLT AF), an Argentine information technology services company, advanced 3.4 percent to 2.15 pesos, its highest price in four weeks on a closing basis. Boldt said in a statement posted on the website of the stock exchange that the government of the City of Buenos Aires had approved its plan to acquire the stake it didn’t own in a joint venture that processes and manages fines for the city.

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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