Bloomberg News

Argentine Stocks: Comercial del Plata, Tenaris and Petrobras

December 28, 2011

Dec. 28 (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 fell 1.3 percent to 2,425.98.

Soc. Comercial del Plata SA (COME AF) surged 8.6 percent to 0.595 pesos for the biggest increase in four months. The Argentine holding company said a local court rejected an injunction that sought to block a new meeting with bondholders to discuss a debt restructuring, according to a statement posted on the website of the Buenos Aires exchange.

Tenaris SA (TS AF) fell 1.5 percent to 86.35 pesos. The world’s largest producer of seamless steel tubes used in the oil industry declined as crude oil slumped. Petroleo Brasileiro SA (APBR AF), Brazil’s state-controlled oil company, also retreated, falling 3.2 percent to 57.5 pesos.

--Editors: Brendan Walsh, 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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