Argentine Stocks: BBVA, Banco Hipotecario, Petroleo Brasileiro
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 0.8 percent to 3,330.88.
Banks declined in line with lenders worldwide after President Barack Obama and Congress failed to reach a deal to raise the debt limit, increasing concern that the U.S. will default.
BBVA Banco Frances SA (FRAN AF) lost 2.5 percent to 13.50 pesos. Banco Hipotecario SA (BHIP) dropped 2.5 percent to 2.35 pesos.
Petroleo Brasileiro SA (PETR4) rose 2.4 percent to 71.70 pesos. The oil and gas producer said it will boost debt and sell assets after approving a $224.7 billion investment plan.
Siderar SAIC (ERAR) , Argentina’s largest steel producer, rose 0.3 percent to 34.20 pesos. Argentina’s government named three board members to Ternium SA’s local unit, ending a three- month dispute with controlling shareholders of Latin America’s second-largest steelmaker.
Sociedad Comercial del Plata SA (COME) , a holding company that produces and transports petroleum products and natural gas through its subsidiaries, fell 2.6 percent to 0.755 pesos as oil declined for the first time in five days.
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