Argentine Stocks: Banco Macro, Petrobras Argentina and 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 1.8 percent to 2,557.46.
Banco Macro SA (BMA) , Argentina’s largest lender by market share, retreated 2.6 percent to 9.64 pesos in its fourth day of losses. Local bank stocks fell in line with the slump in global equities after the Federal Reserve said it may refrain from more monetary stimulus, Carlos Aszpis, an equity strategist at the brokerage Schweber & Cia. in Buenos Aires, said in a phone interview.
Petrobras Argentina SA (PESA) slumped 6.4 percent to 6.30 pesos, its biggest drop since March 6. The Argentine province of Neuquen revoked an oil field concession from Petroleo Brasileiro SA (PBR), which has a controlling stake in Petrobras Argentina.
Tenaris SA (TEN) slid 1.5 percent to 98.50 pesos. The world’s largest producer of seamless steel tubes used in the oil industry fell as crude declined.
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