The following companies had unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 3 p.m. New York time.
The Merval Index fell 1.7 percent to 3,368.73.
Petrobras Argentina SA (PESA AF) rose 3.4 percent to 9.10 pesos and has gained 8.1 percent in the last two days, the most in five weeks.
The local unit of Brazil’s state-controlled oil company Petroleo Brasileiro SA rose after Repsol YPF SA, Spain’s largest oil company, announced Dec. 7 the discovery of 4.5 trillion cubic feet of natural gas in Argentina. The news pushed the price of other natural gas-related companies higher.
Tenaris SA (TS AF) fell 1.5 percent to 91.60 pesos, the most in more than a week. Crude oil prices fell today, signaling lower demand for the seamless steel tubes Tenaris produces.
YPF SA (YPFD AF) rose 0.4 percent to 172.65 pesos. Repsol YPF SA, Spain’s biggest oil company, will sell 10 percent of YPF, its Argentine unit, in New York within a month, Spanish newspaper El Economista reported, citing unidentified people with knowledge of the operation.
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