Bloomberg News

Argentine Stocks: Banco Macro, Petroleo Brasileiro and Tenaris

November 04, 2011

Nov. 4 (Bloomberg) -- The following companies are having unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 12:28 p.m. in Buenos Aires. The Merval Index lost 0.9 percent to 2,757.07.

Banco Macro SA (BMA AF) fell 2.8 percent to 9.82 pesos. Argentina’s largest lender by market share retreated in line with global stock markets, which dropped after G-20 leaders failed to agree on increasing the International Monetary Fund’s resources, fueling concern that European leaders won’t be able to tap more foreign aid to tame their debt crisis.

Petroleo Brasileiro SA (APBR AF) rose 0.5 percent to 64.1 pesos. Brazil’s state-controlled oil company found crude in a well in the Gulf of Mexico, the company said yesterday.

Tenaris SA (TS AF) fell 2.1 percent to 82 pesos. The world’s largest producer of seamless steel tubes used in the oil industry pared gains after rising 12 percent yesterday on third- quarter earnings that beat forecasts.

--Editors: Glenn J. Kalinoski, Marie-France Han

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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