Two additional energy plays that the M100 bought with gusto were Transmeridian Exploration and Tenaris.

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Luxembourg-based Tenaris sells seamless steel pipe products to oil and gas companies.

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Tenaris SA shares are currently trading off about 2.1% on the day.

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Sales are expected to recover only partially in the fourth quarter before growing again in the first half of 2008, Tenaris said.

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If few people can name an Argentine multinational, that is because there are only two of them: Arcor, a chocolate maker, and Tenaris, a steel-pipe maker.

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Companies that supply the drillers were also among the buys, including seamless pipe maker Tenaris S.A. (nyse: TS - news - people ).

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But there are also two from Indonesia (Golden Agri-Resources and Indofood), two from Chile (Falabella and Latam Airlines Group) and one each from Egypt and Argentina (El Sewedy Industries and Tenaris).

BBC: The 100 firms from emerging nations helping to drive growth