Bloomberg News

Argentine Stocks: Petroleo Brasileiro, Tenaris and Siderar

November 09, 2011

Nov. 9 (Bloomberg) -- The following companies had unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of 6 p.m. in Buenos Aires. The Merval Index fell 4.2 percent to 2,676.44. Trading was suspended until 1:40 p.m. because of technical problems.

Petroleo Brasileiro SA (APBR AF) fell 4.9 percent to 62.3 pesos. Brazil’s state-controlled oil company declined along with global commodity prices as a surge in Italian bond yields to euro-era records bolstered concern that Europe’s sovereign debt crisis is worsening.

Tenaris SA (TS AF), the world’s largest producer of seamless steel tubes used in the oil industry, retreated 4.8 percent to 81.25 pesos.

Siderar SAIC (ERAR AF) fell the most in a week, sliding 5.2 percent to 23 pesos. Argentina’s largest steel producer declined along with global industrial metal prices.

--Editor: James Attwood

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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