Argentine Stocks: Pampa, Patagonia, Petrobras, Tenaris and TGS

The following companies had unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 4:01 p.m. New York time.

The Merval Index rose 2.2 percent to 2,360.82.

Banco Patagonia SA (BPAT) fell 1 percent to 4.8 pesos. Banco do Brasil SA (BBAS3), Brazil’s biggest lender by assets, now owns 59 percent of Patagonia’s shares after completing a public tender offer, the Argentine lender said today in a statement posted on the website of the Buenos Aires stock exchange.

Pampa Energia SA (PAMP) gained 1 percent to 2.03 pesos for its biggest increase in a week. The energy holding company secured a $26 million loan from natural gas transporter Transportadora de Gas del Sur SA (TGSU2), according to a statement posted on the website of the Buenos Aires stock exchange.

TGS (TGSU2 AF) fell 2.6 percent to 2.59 pesos.

Petroleo Brasileiro SA (PETR4) jumped 5.5 percent to 52 pesos, the most since May 2010. Brazil’s state-controlled oil company rose in Buenos Aires and Sao Paulo after having its rating increased to “buy” from “hold” at Agora CTVM SA, a brokerage unit of lender Banco Bradesco SA (BBDC4), and as crude oil prices climbed.

Tenaris SA (TEN) gained 3 percent to 63.05 pesos, its third day of gains. The world’s largest producer of seamless steel tubes used in the oil industry rose in line with global crude prices.

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

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.