Argentine Stocks: Ledesma, Soc. Comercial, Petrobras Argentina
The following companies are having unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 1:40 p.m. New York time.
The Merval Index fell 1.1 percent to 3,065.58, touching its lowest level since October 2010.
Ledesma SAAI (LEDE AF), the Argentine sugar producer, fell 1.2 percent to 8.30 pesos. Sugar dropped for the seventh time in eight sessions in New York as output rises in Russia, the biggest importer in Europe.
Sociedad Comercial del Plata SA (COME) , a holding company that produces petroleum products through its subsidiaries, fell 1.6 percent to 68 centavos. Oil fluctuated between gains and losses on the New York Mercantile Exchange, but remained near the lowest price per barrel since November 2010 after crude for September delivery declined 5.8 percent yesterday, erasing this year’s gains. Petrobras Argentina SA (PESA) fell 2.5 percent to 8.12 pesos.
Siderar SAIC (ERAR) , Argentina’s largest steel producer, slid 3 percent to 30.45 pesos. Spanish and Italian banks may have to curtail lending, threatening the European economy, as funding markets freeze amid the region’s sovereign debt crisis. Siderar’s steel products are sold domestically and internationally.
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