Argentine Stocks: Petrobras, Tenaris, Transener Decline

The following companies had unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of the close in Buenos Aires.

The Merval (MERVAL) Index fell 1.4 percent to 2,400.33.

Petroleo Brasileiro SA (PETR4) retreated 1.7 percent to 57 pesos. Brazil’s state controlled oil company fell as the price of crude declined earlier today.

Tenaris (TEN) , the world’s largest producer of seamless steel tubes used in the oil industry, fell 0.4 percent to 82 pesos.

Cia de Transporte de Energia Electrica en Alta Tension Transener SA (TRAN) fell 4.2 percent to 1.13 pesos, leading losses among members of the Merval index. The operator of Argentina’s national power grid declined in line with global stocks as concern grew that European officials were failing to make progress in taming the debt crisis.

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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