Bloomberg News

Argentine Stocks: Banco Macro, Metrogas and Tenaris Were Active

July 03, 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 1.9 percent to 2,413.80.

Banco Macro SA (BMA) rose 2.1 percent to 8.78 pesos. Argentina’s largest lender by market share advanced in line with global stocks after factory orders in the U.S. rose in May for the first time in three months.

Metrogas SA (METR) advanced 0.8 percent to 0.60 peso. The bankrupt Argentine gas distributor owned by BG Group Plc and YPF SA rose after the Buenos Aires newspaper BAE reported yesterday that it may receive a 100 million-peso ($22.1 million) loan from state-owned Banco de la Nacion Argentina. An investor relations official at Metrogas didn’t return a phone call today seeking comment.

Tenaris SA (TEN) gained 2.1 percent to 118 pesos, the fifth straight daily advance. The world’s largest producer of seamless steel tubes used in the oil industry rallied in line with crude.

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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