Here Are the European Stocks Moving on Argentina’s Turmoil
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European companies for the most part have little exposure to Argentina, thanks to decades of economic boom and bust and wild currency swings. The few that do have sizable operations in the country are paying the price this week as a political upset roils markets.
Shares of Spanish security services company Prosegur Cia de Seguridad SA and its Prosegur Cash SA unit have dropped 17% and 22%, respectively, this week. Tenaris SA, a Luxembourg-based maker of steel tubes that has its roots in Argentina, has fallen 4.4% while Italian construction company Salini Impregilo SpA has lost 4.2%. Telefonica SA has declined 2.7%.