Tags: YPF | Stock | Argentina | oil

YPF Stock Falls to Lowest New York Close in a Decade

Tuesday, 13 Nov 2012 06:05 PM

 

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YPF SA, the nationalized oil company, slid 3 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 to $10.15 at the close in New York, the lowest since Nov. 8, 2002.

YPF’s market value is $3.99 billion, after losing 70.7 percent in the year. Spain’s Repsol SA 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.

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