November 20, 2023 14:42 GMT
Argentina’s US Traded YPF Rises 30%, Analyst Reviews Of Election Outcome
- As a reminder, Libertarian candidate Milei has won the runoff of the Argentinian presidential election. His term begins December 10. Candidate for the incumbent Peronist government who was also economy minister, Sergio Massa has conceded defeat and requested a leave of absence from his position as Minister of Finance. Milei has broken through Argentina’s two traditional political blocs while proposing some unorthodox solutions to the country’s current crisis.
- Local markets are closed on Monday for a holiday following yesterday’s voting, however, international gauges have shown a significant positive response to the result with one Argentina ETF rising as mush as 13% at the open. Furthermore, Milei’s comments on looking to boost state energy firm YPF’s value so it can be privatized have stoked a 30% jump for the US-traded asset.
- A full rundown of the analyst views following the runoff election result is here: