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November 23, 2014
Wednesday, July 30, 2014

YPF stocks plummet during Kicillof conference

New York futures stocks in petroleum company YPF dropped 3.6 percent during Economy minister Axel Kicillof's press conference this evening, as the politician announced that there was no agreement with holdout investors in order to avoid default.

Kicillof's speech, given following talks with mediator Daniel Pollack and 'vulture fund' representatives which ultimately failed to bear fruits, occurred after the close of markets in the US city. Optimism over a possible deal had lifted shares during trading, with ADRs finishing 9.3 percent up.

The minister had reiterated that "Argentina is willing and it will remain willing as always to talk," and that the objective of negotiations was to reach a "fair, equitable and legal solution for 100 percent of our creditors."

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Tags:  YPF  New York  Kicillof  shares  





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