Argentine Stocks: Banco Santander, Capex, TGS and Tenaris Fall

The following companies had unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 4 p.m. New York time.

The Merval Index fell 2.2 percent to 3,396.20.

Banco Santander SA (SAN) retreated 5.6 percent to 43.50 pesos, the most since Nov. 29. The Spanish lender fell in Buenos Aires in line with the price of its stock in Madrid on concern that the European debt crisis will spread to Italy.

Capex SA (CAPX) slumped 6.2 percent to 6.19 pesos, the biggest fall in four months. The Argentine electricity producer and oil company reported a loss of 12.4 million pesos in the fiscal year to April 30, according to a statement posted on the website of the Buenos Aires stock exchange.

Transportadora de Gas del Sur SA (TGSU2) (TGSU2 AF) fell 2.7 percent to 3.30 pesos. The Argentine gas transport company was cut to “market perform” from “outperform” at Raymond James Latin America.

Tenaris SA (TEN) decreased 2.3 percent to 95.70 pesos, its second day of losses. The world’s largest producer of seamless steel tubes used in the petroleum industry fell in line with the price of crude, which retreated on concern that the European debt crisis will spread to Italy and after Chinese imports slumped.

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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