Argentine Stocks: Petroleo Brasileiro, Siderar SAIC Decline

The following companies are having unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 11:52 a.m. New York time.

The Merval Index fell 0.2 percent to 3,157.45.

Petroleo Brasileiro SA (PETR4) , the oil and gas producer, dropped 1.2 percent to 71.75 pesos. Crude oil fell in New York on speculation that global demand is weakening.

Siderar SAIC (ERAR) slipped 1.6 percent to 27.75 pesos. Argentina’s largest steel producer slid to the lowest level since October amid concern that global growth is slowing after U.S. economic data released last week trailed estimates.

To contact the reporter on this story: Leon Lazaroff in New York at llazaroff@bloomberg.net

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

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