January 25, 2021 |
Shares in YPF, the biggest energy company in Argentina, rebounded on the local stock market on Friday as speculation dissipated of a state takeover of the 49% in private hands, returning investors' focus to negotiations to restructure $6.2 billion in bonds.
YPF's shares rose 7.87% to close at ARS561.00 ($6.49) on the Buenos Aires Stock Exchange on Friday after an 8.6% plunge on Thursday. The company's American depositary receipts (ADRs) climbed 10.6% to $3.60.
The turnaround came after Economy M
Argentine economy minister shoots down rumor as energy company seeks to restructure $6.2 bln in bonds