Argentine stocks ended down on Friday for the third straight session, pressured by lower international oil prices and their negative impact on steel tube maker Tenaris, traders said.
The benchmark MerVal index of 12 leading shares shed 1.05 percent to end at 1,632.68 points, accumulating a 2.8 percent loss since Tuesday's close. MerVal shares are still up 5.8 percent since the start of the year, however. Volume expanded slightly to a moderate 42.6 million pesos ($13.7 million) with more active participation by investment funds, traders said.
The shares of index heavyweight Tenaris slumped 1.9 percent to 55.45 pesos in Buenos Aires. The Luxembourg-based company, owned by Argentina's Techint conglomerate, is the world leader in making seamless steel pipes for the energy industry.
US crude oil futures ended lower on Friday for a fifth consecutive session after slumping to a new five-month low, which diminished the allure of Tenaris stock.
"The MerVal's fall was largely due to the correction in Tenaris, but investors were also selling off other shares," said Oscar Campos, a trader at brokerage InterValores.
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