Argentina Stocks: Banco Macro, Pampa Energia and Tenaris

The following companies are having unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 1:24 p.m. in Buenos Aires. The Merval Index rose 2.3 percent to 2,756.41.

Banco Macro SA (BMA) gained 4.5 percent to 10.45 pesos. Argentina’s largest lender by market share rose in line with global equity markets, which advanced after U.S. consumer confidence improved and Europe took steps to address its debt crisis.

Pampa Energia SA (PAMP) fell 0.9 percent to 2.27 pesos. Argentina’s biggest energy company posted a nine-month accumulated loss of 183 million pesos ($43 million), according to a statement posted yesterday on the website of the Buenos Aires exchange.

Tenaris SA (TEN) gained 2.7 percent to 85.2 pesos, the biggest gain in a week. The world’s largest producer of seamless steel tubes used in the oil industry rose in line with crude prices, which increased on speculation that signs of U.S. economic growth and Europe’s efforts to contain the debt crisis will boost fuel demand.

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.