Argentine Stocks: Aluar Aluminio Declines; Tenaris Advances

The following companies are having unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 1:54 p.m. in Buenos Aires.

The Merval (MERVAL) Index rose 0.6 percent to 2,737.

Aluar Aluminio Argentino SAIC (ALUA) (ALUA AF), the country’s largest aluminum producer, fell 3.1 percent to 2.82 pesos. Aluar’s Puerto Madryn plant is running at 80 percent capacity and could reach 90 percent this month, it said in a statement posted yesterday on the website of the Buenos Aires exchange. The company said Nov. 7 that the plant was operating at between 75 and 80 percent capacity after rains affected power generation.

Tenaris SA (TS) (TS AF), the world’s largest producer of seamless steel tubes used in the oil industry, rose 2.4 percent to 94.10 pesos as oil gained for a third day in New York.

To contact the reporter on this story: Christine Jenkins in New York at cjenkins28@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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