Argentine Stocks: Edenor, Tenaris SA, YPF 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 3:18 p.m. in Buenos Aires. The Merval (MERVAL) index fell 1.2 percent to 2,309.60.
Empresa Distribuidora & Comercializadora Norte SA (EDN) , Argentina’s largest power distributor, rose 1.4 percent to 0.74 pesos, ending a seven-day losing streak. Investors are using last week’s 6.5 percent drop in the Merval index to buy some of the country’s most-active stocks such as Edenor, said Leonardo Chialva, a partner at Buenos Aires-based asset manager Delphos Investment, in a phone interview.
Tenaris SA (TEN) fell 1.3 percent to 96.20 pesos in its third straight day of losses. The world’s largest producer of seamless-steel pipes used in the oil industry declined in line with the price of crude.
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