Wednesday, November 14, 2012 9:17:26 AM
By Pablo Gonzalez - Nov 13, 2012 3:22 PM ET
YPF SA (YPF), the nationalized oil company, slid as much as 3.4 percent on concerns Argentina may face a technical default as a New York judge is asking the sovereign to submit a plan to pay holders of defaulted debt.
YPF slumped 3.4 percent to $10.10 at 3 p.m. in New York, heading for the lowest close since Nov. 8, 2002.
YPF’s market value is about $4 billion, after losing 76.1 percent in the year. Spain’s Repsol SA (REP) had a 51 percent stake in the company seized by Argentina’s government in April. The Madrid-based company is seeking to obtain $10.5 billion in compensation from Argentina for the expropriation.
Recent YPF News
Avant Technologies Equipping AI-Managed Data Center with High Performance Computing Systems • AVAI • May 10, 2024 8:00 AM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM
