Wednesday, April 18, 2012

YPF stock transactions resume in New York, shares plunge 32.7%

On Wednesday, shares of Argentina’s biggest energy company Repsol-YPF plunged 32.7 percent in Wall Street after transactions resumed following three days of suspension.

Stocks plunged this week after president Cristina Fernández de Kirchner announced last Monday the government was sending to the Congress a draft bill allowing the administration to expropriate 51 percent of the 57.43 share-package Repsol owns.