The following companies are having unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 12:58 p.m. in Buenos Aires.
The Merval (MERVAL) Index fell 2.1 percent to 2,633.84.
Petrobras Argentina SA (PESA) dropped 5.4 percent, the most in 18 weeks, to 6.52 pesos. The local unit of Brazil’s state-controlled oil company Petroleo Brasileiro SA is falling on speculation that a conflict between YPF SA (YPFD), Argentina’s largest energy company, and the government may affect other fuel-distribution companies, Adrian Mayoral, a trader and analyst at Buenos Aires-based brokerage Mayoral Bursatil, said in a phone interview.
Polledo SA (POLL) advanced 5.8 percent to 0.201 pesos. The Argentine construction company has increased 12 percent in the last two days after it reached an agreement to restructure 17.5 million pesos ($4 million) in debt. It announced the agreement in a statement posted yesterday on the website of the Buenos Aires stock exchange.
Tenaris SA (TEN) retreated for second day, dropping 3.6 percent to 93.8 pesos. The world’s largest producer of seamless steel tubes used in the oil industry fell in line with the price of crude oil.
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