Argentine Stocks: Aluar Aluminio, Petrobras Argentina, Tenaris
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 1.5 percent to 2,277.08.
Aluar Aluminio (ALUA) Argentino SA (ALUA AF), the country’s largest aluminum producer, fell 3 percent to 2.26 pesos, its lowest on a closing basis since September 2009. Industrial stocks dropped after consulting firm FIEL reported yesterday that industrial production in the country contracted, Carlos Aszpis, an equity strategist at Buenos Aires-based brokerage Schweber & Cia., said in a phone interview.
Petrobras Argentina SA (PESA) , the local unit of Brazil’s state-controlled oil company, Petroleo Brasileiro SA (PBR), dropped 4.6 percent to 6.25 pesos, the biggest fall in more than two weeks. Petrobras is in “quite heated” discussions with Argentina about the cancellation of a concession in the Neuquen province, Chief Executive Officer Maria das Gracas Foster said today in Brasilia.
Tenaris SA (TEN) advanced 1.9 percent to 99.50 pesos, its second day of gains. The world’s largest producer of seamless steel tubes used in the oil industry increased in line with the price of crude.
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