Bloomberg News

Argentine Stocks: Banco Hipotecario, BBVA Banco Frances, Tenaris

January 16, 2012

Jan. 13 (Bloomberg) -- The following companies had unusual price changes in Argentine trading. Stock symbols are in parentheses and share prices are as of the close of trading in Buenos Aires.

The Merval Index fell 2.4 percent to 2,753.52.

Financial company shares declined in line with U.S. banks as euro-region governments braced for possible credit downgrades by Standard & Poor’s and as JPMorgan Chase & Co.’s profit slumped 23 percent.

Banco Hipotecario SA (BHIP AF) dropped 2.9 percent to 1.70 pesos. BBVA Banco Frances SA (FRAN AF) retreated 4 percent to 9.41 pesos.

Tenaris SA (TS AF) fell 3.5 percent to 91.40 pesos. The world’s largest producer of seamless steel tubes used in the oil industry declined in line with the price of crude in New York.

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

To contact the reporters on this story: Camila Russo in Buenos Aires at crusso15@bloomberg.net

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


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