Bloomberg News

Argentine Stock Movers: Edenor, Transener and TGN Were Active

June 04, 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 retreated 0.2 percent to 2,210.41.

Empresa Distribuidora & Comercializadora Norte SA (EDN) dropped 5.5 percent to 0.69 peso, the biggest decline in more than three weeks. Argentina’s largest power distributor slumped for a second day as the company “faces an unsustainable financial situation and may need to continue selling assets to keep operating,” Juan Jose Vasquez, an analyst at Buenos Aires- based brokerage Bull Market Brokers, said in a phone interview today.

Cia de Transporte de Energia Electrica en Alta Tension Transener SA (TRAN AF), the operator of the country’s national energy transmission grid, fell 5.6 percent to 0.67 peso.

Transportadora de Gas del Norte SA (TGNO4 AF) sank 9.9 percent to 0.49 peso, its biggest drop since August. The Argentine natural gas transporter filed for legal protection from creditors, according to a statement posted on the website of the Buenos Aires exchange.

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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