Argentine Stocks: Molinos and Tenaris Advance; Petrobras Falls

The following companies are having unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 1:18 p.m. New York time.

The Merval Index climbed 0.2 percent to 3,332.54.

Molinos Rio de la Plata (MOLI) SA, which produces food products for domestic sale and export, climbed 0.8 percent to 32 pesos, as wheat futures rose the most in a week on the Chicago Board of Trade. More than two-thirds of Molinos’s revenue comes from exports.

Tenaris SA (TEN) , the world’s largest producer of seamless steel pipe products, added 1.5 percent to 96 pesos. Argentine industrial production may have risen 8.5 percent in June from the same month last year, according to the median estimate of six economists in a Bloomberg survey before the report to be released July 22.

Petroleo Brasileiro SA (PETR4) , the oil and gas producer, fell 1.7 percent to 69.60 pesos, in line with declining crude oil prices. Crude oil futures declined, giving up an earlier gain of 1.6 percent. Crude for August delivery fell 45 cents, or 0.5 percent, to $97.05 a barrel on the New York Mercantile Exchange. The August contract expires today.

YPF SA (YPFD) , the oil and gas producer that is Argentina’s largest company by market value, dropped 0.3 percent to 179 pesos.

To contact the reporter on this story: Bryan Gibel in New York at bgibel@bloomberg.net

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

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