YPF Sociedad (YPF) Ends Losing Streak as US Pledges Lifeline to Ailing Argentina

We recently published 10 Stocks Stealing Wall Street’s Spotlight. YPF Sociedad Anónima (NYSE:YPF) is one of the top performers on Monday.

YPF Sociedad Anónima (NYSE:YPF) snapped a three-day losing streak on Monday, climbing 12.78 percent to finish at $26.92 apiece, as investors cheered the US Treasury’s financial lifeline to Argentina.

YPF Sociedad Anónima (NYSE:YPF), an energy company based in Argentina, has been trading lower alongside the overall Argentine markets over the past few weeks as the country faces economic turmoil

Investors took heart from news that the US Treasury was in the works for a “large and forceful” intervention to support Argentina amid the country’s severe market volatility, part of which would see Washington’s purchase of Argentina’s currency or sovereign debt by a fund controlled by the US Treasury.

“We’re sending a message that if you do the right thing, if you follow good policies, that if you’re aligned with the values of the United States…we are willing to provide assistance when things move out of equilibrium,” Washington was quoted as saying in comments to reporters.

A meeting between US President Donald Trump and Argentina’s leader, Javier Milei, is expected to occur on Tuesday to discuss options.

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Disclosure: None. This article is originally published at Insider Monkey.