STOCKS NEWS EUROPE-Tenaris, Vallourec hit by U.S. tariff ruling

Shares in seamless steel tube makers Tenaris (Milan: TEN.MI - news) and Vallourec (Frankfurt: 852809 - news) tumble 5.7 percent and 4.9 percent respectively, the biggest losers on Europe's broad STOXX 600 as traders cite a U.S. anti-dumping ruling hitting the sector.

A spokeswoman for Vallourec (Xetra: VAC.DE - news) said a preliminary decision by the U.S. Commerce Department on tariffs had gone against it and other companies which manufacture seamless steel tubes in the United States. The companies had wanted to see tariffs imposed on South Korea and some other Asian exporters.

According to a Bloomberg report, the U.S. Commerce Department preliminarily set tariffs on imports of steel pipes from eight countries, which excludes South Korea, one of the biggest exporters of tubes to the United States.

"There was expectation that South Korea would be included, which would have been good news," a Paris-based trader says.

Reuters Messaging: blaise.robinson.thomsonreuters.com@reuters.net