Bloomberg News

Argentine Stock Movers: Edenor and Transener Gain; Tenaris Falls

November 25, 2011

Nov. 25 (Bloomberg) -- 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 Index closed little changed at 2,426.00.

Empresa Distribuidora & Comercializadora Norte SA (EDN AF) jumped 9.2 percent to 1.55 pesos, the biggest increase in six weeks. Utility stocks are gaining on speculation that the government will free up the tariffs they are allowed to charge customers, Alberto Tarsia, a trader at Buenos Aires-based Debursa Soc. de Bolsa, said in an interview.

Cia de Transporte de Energia Electrica en Alta Tension Transener SA (TRAN AF) advanced 8.6 percent to 1.26 pesos.

Tenaris SA (TS AF) fell 2.5 percent to 74.6 pesos. The world’s largest producer of seamless steel tubes used in the oil industry declined in line with U.S. markets after Standard & Poor’s cut Belgium’s rating and a report said Greece is demanding private investors accept larger losses on their debt.

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

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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