Argentine Stock Movers: Banco Patagonia and Tenaris Were Active

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 0.3 percent to 2,684.18.

Banco Patagonia SA (BPAT) rose 1.5 percent to 3.44 pesos. The Argentine lender will buy back as much as 3.45 million pesos ($789,184) of its own shares within the next 180 days to bolster their value after the stock fell below book value, it said in a statement posted yesterday on the website of the Buenos Aires exchange.

Tenaris SA (TEN) fell 0.6 percent to 101.9 pesos. The world’s largest producer of seamless steel tubes used in the oil industry fell in line with the price of crude.

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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