Bloomberg News

Argentine Stocks: Tenaris SA and YPF SA Were Active

March 01, 2012

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 (MERVAL) Index rose 3.8 percent, the steepest one-day gain in two months, to 2,748.75,

YPF SA (YPFD) jumped 17 percent to 146 pesos. Argentina’s largest energy company, a unit of Spain’s Repsol-YPF SA, rose the most in 10 years after President Cristina Fernandez de Kirchner didn’t address a potential nationalization in a speech today to Congress, as local media had speculated.

Tenaris SA (TEN) advanced 5.4 percent to 98.9 pesos, the biggest increase since Jan. 3. The world’s largest producer of seamless steel tubes used in the oil industry rose in line with crude prices.

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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