Argentine Stocks: IRSA Inversiones & Representaciones, Tenaris
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 5.7 percent to 2,480.76, its lowest value since September 2010.
IRSA Inversiones & Representaciones SA (IRSA AF), an Argentine commercial real estate developer and shopping center operator, fell 6.4 percent to 4.4 pesos, its lowest price since August 2010. Cresud SACIF y A, IRSA’s controller, acquired 2.96 million American depositary receipts in the company, according to a statement posted today on the website of the Buenos Aires stock exchange.
Tenaris SA (TEN) fell 8 percent to 59.8 pesos, its lowest price since September 2009. The world’s largest producer of seamless steel tubes used in the oil industry declined in line with global crude prices. The company was also the most active stock today in the Buenos Aires floor, with 14 million pesos ($3.3 million) changing hands.
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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