MercoPress, en Español

Montevideo, May 22nd 2022 - 19:42 UTC

 

 

YPF shares and Buenos Aires market soar to record highs on announcement of agreement with Repsol

Wednesday, November 27th 2013 - 06:35 UTC
Full article 7 comments
Repsol board must consider and vote on the pre-arrangement this Wednesday Repsol board must consider and vote on the pre-arrangement this Wednesday

Argentina's Merval benchmark stock index climbed 3% on Tuesday to finish at a record high of 5,696.2 points, following a strong hike in YPF and Edenor stocks. YPF shares soared 11%, while electricity distributor Edenor saw prices close 19% up at the end of trading.

 Shares at the state-owned petroleum company jumped after the announcement of a compensation pre-agreement reached by Argentina, Spain and Mexico over YPF’s seizure of a majority stake from Repsol last year.

A 6.5% climb in fuel prices is also pushing the company’s stocks higher.

Meanwhile, upward trends in the Edenor electric supplier company continued as a partial removal of utility subsidies and corresponding price increase was rumored.

If the pre-agreement between the three countries which is to be considered on Wednesday by Repsol board is approved, and all litigations are dropped, YPF will have the way open to issue bonds and reach other agreements with oil companies for the exploitation of the vast shale gas and oil deposits in Vaca Muerta, among the largest in the world.

Top Comments

Disclaimer & comment rules
  • El Diego

    Never ever take financial advice from the Brits and Gringos on this forum - they don't understand economics or finance

    YPF share price more than doubled ! I made a fortune again by doing the exact opposite of what the Brits recommend to do - a great contraian strategy if ever I saw one - hahaha

    Please we need some more investment advice!!! Hahaha. - then do the compete opposite and get rich!

    Off to Miami this weekend then up to Wellington and Ocala for a few games of Polo then back to the beach in South Beach with my Brazilian girlfriend and probbaly take the Ferrari out for a spin.

    Give me some time to plan my next investments in Argentina.....

    Nov 27th, 2013 - 11:38 am 0
  • pgerman

    “I made a fortune again”...ha ha ha ha !!!.....yes, sure. And the whole country will see its international debt increased by U$D 5.000 million (or even more) bringing new poverty to common people.

    Another brillian decision of the Batata Queen and her Gang.

    I remember when CFK, her beloved husband, Carlos Menem and the whole peronism were proud of having privatized YPF. Now the same people are proud of having expropiated it.

    I remember when H.M. CFK, and her “apple polishers”, were proud of reducing the Intenational Debt. Now, they are proud of increasing it...

    What a bunch of thieves !!!....I really envy the FI people who don't have to bear such “band of brothers”.

    Nov 27th, 2013 - 12:04 pm 0
  • reality check

    Don't forget, get the horse back for Monday mornings milk round!

    Nov 27th, 2013 - 01:30 pm 0
Read all comments

Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!