Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Argentine Stocks: Ledesma, Petrobras, Siderar, Tenaris Fall

Don't Miss Out —
Follow us on:

Aug. 5 (Bloomberg) -- 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.

To contact the reporter on this story: Bryan Gibel in New York at bgibel@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.ne

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.