Grupo Clarin SA, Argentina’s biggest media company, tumbled the most on record after the country’s Supreme Court upheld a 2009 law that limits ownership of cable franchises and television and radio stations.
YPF SA, Argentina’s largest oil company, rose as much as 11 percent after newspaper Clarin said the government will propose taking a stake of as much as 50.01 percent, citing a copy of the bill it said was sent to Congress.
Tenaris SA, the world’s largest maker of seamless steel pipes, said fourth-quarter profit rose 25 percent, beating analyst estimates, on increased demand from oil and natural-gas explorers and higher prices.
Ternium SA, Latin America’s second- largest steelmaker, reported fourth-quarter profit that missed analysts’ estimates amid foreign-exchange losses and said it expects lower operating income this quarter. Shares plunged.