lunes, 17 de febrero de 2014

YPF on Wall Street climbed 25% in two weeks.

YPF's action on Wall Street climbed 25% in less than two weeks, in line with the dollar prices of major government bonds in the country. The ADR's state oil closed Friday to $ 27.22 on the NYSE s and continue their recovery, the prospects for new debt issuance in the short term would be enhanced.

Are still far from u $ s 34.17 Scoring December 23, a week to get u $ s 500 million a rate of 9%, lower than that paid by the Argentine State in international markets. This backing of investors, which meant a record since its nationalization, is also explained in the imminent agreement with Repsol that closed several legal fronts around the world.

But the delicate situation of the country exchange finished absorbing the impact of negotiations with the Iberian firm, its shares plummeting 36% to $ 21.85 s. Market fears pointed to the drop in dollar revenues and higher prices for imported inputs but above all, the assumption that the state could adopt a more interventionist attitude in the oil. The lack of developments in the talks with Repsol, also they added nervously.

Ghosts seem to have dissipated. Not only does the dollar will remain near $ 8 until at least May, but Miguel Galuccio has shown willingness to transfer the impact of the devaluation on the prices of fuels YPF.

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