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4-Traders Homepage  >  Equities  >  Italian Stock Exchange  >  Tenaris    TEN   LU0156801721

TENARIS (TEN)
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Real-time Quote. Real-time Tradegate - 04/20 04:49:54 pm
15.285 EUR   +0.26%
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YPF Tanks, Leading Argentine Stocks Lower

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02/28/2012 | 11:15pm CEST

--YPF tanks ahead of President Kirchner's address to Congress on Thursday

--GDP warrants slide on concern about economic growth

--Peso barely moves versus the U.S. dollar

   By Taos Turner 
   Of  

Argentine stocks played catchup on Tuesday, making up for the poor performance of local shares traded in New York on Monday, when Argentina's market was closed because of its Flag Day holiday.

The Merval index fell 2.9% to 2682.09 in volume totaling ARS68 million ($15.6 million).

Shares of the oil and gas company YPF SA (YPFD.BA, YPF) tanked 7.5% to ARS147 on continued speculation that the government will nationalize the company or that some provinces might revoke some of its concessions.

"Yesterday was a bad day for local stocks in the U.S. and we're seeing a reflection of that today," said Adrian Mayoral, a trader at his family's brokerage.

Mayoral said investors are concerned about Argentine President Cristina Kirchner's administration and its unpredictable approach to economic policy.

"The government is dangerous because it's populist and doesn't think long-term. People are afraid that they'll be surprised by some kind of unexpected announcement. So there's some fear out there."

Kirchner is expected to address Congress on Thursday and speculation is rampant that she will announce some new policy measures, perhaps even something related to YPF.

Shares of financial group Grupo Financiero Galicia SA (GGAL.BA, GGAL) fell 3.7% in heavy trading to ARS3.37.

Telecom Argentina SA (TECO2.BA, TEO) fell 4.3% to ARS17.60; Tenaris SA (>> Tenaris S.A.) fell 3.55% to ARS93.70.

Sociedad Comercial del Plata (COME.BA) rose almost 4.4% to ARS0.715 to lead the gains.

The Global X FTSE Argentina 20 ETF rose 0.78% to $11.60.

Argentina's so-called GDP warrants slid sharply on concern that the economy will not perform strongly this year.

The TVPP 2025 warrant fell 4.9% to ARS13.15.

The peso was little changed against the U.S. dollar at ARS4.3555 on the MAE local foreign-exchange wholesale market compared with ARS4.3533 in the previous session.

Last year the peso weakened 7.6% against the dollar.

-By Taos Turner, Dow Jones Newswires; 5411-4103-6728; [email protected]

Stocks mentioned in the article
ChangeLast1st jan.
PAMPA ENERGIA SA --End-of-day quote.
TELECOM ARGENTINA SA --End-of-day quote.
TENARIS 0.59% 15.245 End-of-day quote.15.16%
TENARIS SA --End-of-day quote.
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Financials ($)
Sales 2018 6 803 M
EBIT 2018 793 M
Net income 2018 618 M
Finance 2018 467 M
Yield 2018 2,53%
P/E ratio 2018 34,87
P/E ratio 2019 24,34
EV / Sales 2018 3,18x
EV / Sales 2019 2,70x
Capitalization 22 131 M
Chart TENARIS
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Tenaris Technical Analysis Chart | TEN | LU0156801721 | 4-Traders
Technical analysis trends TENARIS
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 19,2 $
Spread / Average Target 2,0%
EPS Revisions
Managers
NameTitle
Paolo Rocca Chairman & Chief Executive Officer
Edgardo Carlos Chief Financial Officer
Marcelo Ramos Technology Director
Roberto Luis Monti Independent Director
Guillermo Francisco Vogel Hinojosa Executive Director & Vice President-Finance
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