Bloomberg News

Argentine Stocks: Petrobras Argentina, Tenaris, TGN Were Active

June 21, 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 fell 1.7 percent to 2,311.43.

Petrobras Argentina SA (PESA) , a unit of Brazil’s state- controlled oil company Petroleo Brasileiro SA, retreated 4.3 percent to 5.14 pesos in a second day of losses. A three-day strike by the country’s truck drivers union led to fuel shortages today. The strike was lifted after drivers secured a 25.5 percent wage increase.

Tenaris SA (TS) fell 2.8 percent to 111.80 pesos, the most in three weeks. The world’s largest producer of seamless steel tubes used in the oil industry dropped in line with the price of crude in New York.

Transportadora de Gas del Norte SA (TGNO4 AF), a natural gas transporter, dropped 6.5 percent to 0.43 peso, the lowest in more than three years. Argentina redirected natural gas to homes from industrial users today amid the nationwide truckers’ strike, Planning Minister Julio De Vido said today at a press conference in Buenos Aires.

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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