Bloomberg News

Argentine Stocks: Banco Hipotecario Falls; Tenaris Rises

October 04, 2011

Oct. 4 (Bloomberg) -- The following companies had unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 4:01 p.m. New York time.

The Merval Index retreated 0.2 percent to 2,286.73.

Banco Hipotecario SA (BHIP AF) fell 5.8 percent to 1.45 pesos, its lowest price since July 2010. The price of Argentine sovereign bonds declined today, which signals lower value for banks’ fixed income holdings.

Tenaris SA (TS AF) rose 3.1 percent to 58.5 pesos, the biggest gain in a week. The world’s largest producer of seamless steel tubes used in the oil industry increased in the last hour of trading in line with U.S. equity markets, which gained on speculation European Union officials are examining how to recapitalize the region’s banks.

--Editors: Glenn J. Kalinoski, Richard Richtmyer

To contact the reporter on this story: Eduardo Thomson in Santiago at ethomson1@bloomberg.net

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


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