Argentine Stocks: Ledesma, Petrobras, Siderar, Tenaris Fall

The following companies had unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 4:24 p.m. New York time.

The Merval Index fell 1.4 percent to 3,067.61, its lowest level since October.

Ledesma SAAI (LEDE AF), the Argentine sugar producer, fell 3 percent to 8.15 pesos. Sugar dropped, capping the biggest weekly decline in three months, as output rises in Russia, the biggest importer in Europe.

Siderar SAIC (ERAR AF), Argentina’s largest steel producer, slid 2.2 percent to 30.70 pesos. Spanish and Italian banks may have to curtail lending, threatening the European economy, as funding markets freeze amid the region’s sovereign debt crisis. Siderar’s steel products are sold domestically and internationally.

Tenaris SA (TS AF), the world’s largest producer of seamless steel tubes used in the petroleum and mechanical industries, dropped 2.6 percent to 79.50 pesos. Oil fluctuated between gains and losses on the New York Mercantile Exchange, but remained near the lowest price per barrel since November 2010 after crude for September delivery declined 5.8 percent yesterday, erasing this year’s gains. Petrobras Argentina SA (PESA AF) fell 1.7 percent to 8.19 pesos.