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Grupo Financiero Galicia S.a. Share News

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ADR Report: Shares Fall On Disappointing Economic Data

By John Kell Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- Shares of international companies trading in New York closed lower Wednesday, as disappointing domestic and European economic data weighed on investors. The Bank of New York index of American depositary shares fell 0.8% to 130.46. The European index dropped 0.7% to 119.56. Major indexes in Europe closed broadly lower after U.S. durable goods data came in below expectations and concerns regarding Spain resurfaced. ADRs of European financial stocks led the declines, with Banco Santander SA (STD) down 2.3%, ING Groep NV (ING) dropping 2% and Prudential PLC (PUK) decreasing 2.1%. A weak day for commodity prices led to declines for Anglo-Australian mining company Rio Tinto PLC (RIO) and steelmaker ArcelorMittal SA (MT). Rio Tinto earlier Wednesday disclosed it entered into exclusive talks with U.S.-based private-investment firm H.I.G. Capital regarding its offer for Rio's European specialty alumina business. ArcelorMittal, meanwhile, said it sold part of its stake in Turkey's largest flat steel producer, in line with its strategy to focus on core assets and reduce debt. Rio Tinto declined 1.7%, and ArcelorMittal fell 3.3%. The Latin American index fell 1.8% to 368.99. Nearly all financial stocks traded lower, including a 2.8% decline for Itau Unibanco Holding S/A (ITUB) and a 2.7% decrease for Grupo Financiero Galicia SA (GGAL). Brazilian mining giant Vale SA (VALE) launched the sale of $1.25 billion in bonds, by reopening an existing issue due in 2022, which was originally sold in January. Vale's ADRs dropped 2%, declining with other international mining firms. The emerging-markets index decreased 1.7% to 304.54. Gold futures slumped Wednesday, with Comex April gold falling 1.6% to $1,657.90 a troy ounce. South African mining companies traded lower, including a 4.5% drop for AngloGold Ashanti Ltd. (AU) and a 4.4% decline for Harmony Gold Mining Co. (HMY). The Asian index slipped 0.6% to 129.51. South Korean financials closed lower, including a 1.5% drop for KB Financial Group Inc. (KB) and a 0.7% decrease for Shinhan Financial Group Co. (SHG). Shares of China Telecom Corp. (CHA) closed up 0.8%. China's third-largest mobile carrier inked a deal to exclusively carry Finnish handset maker Nokia Corp.'s (NOK) Chinese version of its Lumia 800 smartphone. -By John Kell, Dow Jones Newswires; 212-416-2480; [email protected]

Stock News for Grupo Financiero Galicia S.a. (GGAL)
03/24/201715:29:19Report of Foreign Issuer (6-k)
03/24/201715:26:05Report of Foreign Issuer (6-k)
03/14/201717:08:34Report of Foreign Issuer (6-k)
02/22/201714:34:37Report of Foreign Issuer (6-k)
01/30/201715:54:03Report of Foreign Issuer (6-k)
01/25/201713:30:08Report of Foreign Issuer (6-k)
01/20/201717:02:35Report of Foreign Issuer (6-k)
01/17/201716:34:38Report of Foreign Issuer (6-k)
01/17/201716:33:48Report of Foreign Issuer (6-k)
01/12/201716:48:36Report of Foreign Issuer (6-k)
01/12/201716:46:23Report of Foreign Issuer (6-k)
01/12/201716:45:03Report of Foreign Issuer (6-k)
12/08/201616:54:18Report of Foreign Issuer (6-k)
12/08/201616:53:12Report of Foreign Issuer (6-k)
11/17/201612:54:57Report of Foreign Issuer (6-k)
11/10/201616:21:08Report of Foreign Issuer (6-k)
11/10/201614:14:02Report of Foreign Issuer (6-k)
10/25/201614:38:55Report of Foreign Issuer (6-k)
10/25/201614:33:50Report of Foreign Issuer (6-k)
10/20/201614:00:21Report of Foreign Issuer (6-k)

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