Argentine Stock Movers: YPF SA and Tenaris SA Are Active
The following companies are having unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 2:54 p.m. in Buenos Aires.
The Merval (MERVAL) Index fell 2 percent to 2,511.13.
YPF SA (YPFD) (YPFD AF) dropped 3.8 percent to 118.35 pesos. Argentina’s largest oil company is falling after Spain warned that Argentine President Cristina Fernandez de Kirchner’s steps to nationalize the company may shatter relations between the two countries.
Tenaris SA (TS) (TS AF) tumbled 2.5 percent to 95.95 pesos. The world’s largest producer of seamless steel tubes used in the oil industry fell after China’s economic growth slowed last quarter more than forecast.
To contact the reporters on this story: Camila Russo in Buenos Aires at firstname.lastname@example.org
To contact the editor responsible for this story: David Papadopoulos at email@example.com