Facebook fever on its first day on the stock had a tepid development, as the value of the share closed almost the same opening price.
The financial market reacted positively after the passage of the law of nationalization of YPF. Both the Stock Exchange of Buenos Aires and New York, the shares of the oil company up.
Minister of Agriculture and Fisheries, Norberto Yauhar, announced that he will “foster the closures” of stores that sell the herb at a higher price than that agreed with the Secretary of Domestic Trade. He denounced “speculative movements”.
In a resolution voted by the Parliament of the European Union, member countries proposed to remove the commercial benefits to Argentina for the expropriation of 51% of YPF.
International Monetary Fund released its estimates for Latin America in 2012, being positive for almost all its members. It predicted that Argentina will grow at a slower pace than usual and that its inflation will fall to 9.9%.
After the surprise rise of 8.4% yesterday, YPF shares traded in low and takes the Merval down, which accompanies the global trend.
According to what Repsol, the Spanish oil company, said in a statement to the National Securities Market Commission (CNMV), “we have not received any notification by the Argentine government regarding the expropriation of YPF.”
The Stock Exchange of Buenos Aires stopped the sale of YPF shares for a few minutes after a surprise increase of 10% in value.
According to sources at M24Digital, today a bill sent by the National Executive entered the Chamber of Representatives proposing to declare of “public utility” 50,01% of YPF shares, allowing their expropriation.
The rating agency Moody’s issued comments on the controversy over the transfer of the Buenos Aires subway and buses to the City of Buenos Aires. They said it could downgrade the Federal Capital’s debt rate if the fares are not increased.
The head of the Federal Administration of Public Revenues (AFIP), Ricardo Echegaray, announced that revenue for the month of March had a strong increase over last year and reached 48,363.3 million pesos (11.247,28 million dollars).
In a report released by the Ministry of Industry, it was revealed that nearly 40% of small and medium companies stopped using imported parts in its production chain.
U.S. President Barack Obama announced that he will sanction Argentina with the off trade benefits for not acting “in good faith” in two cases lost to U.S. companies.
YPF’s board approved today an initiative to turn profits in 2010 and 2011 into stocks and seek profits in the financial market to expand production of fuel. The Government rejected the initiative, claiming that it would create a leak of dollars overseas.
Mercedes Marco del Pont, President of the Central Bank of the Republic of Argentina (BCRA for its acronym in Spanish), defended the reform to the Organic Letter of the entity in a summit of committees of the Senate.
Brazil President Dilma Rouseeff said in a conversation with union of her country that she can not adopt measures similar to those of Cristina Fernandez, with respect to industry, because Argentina has 20% inflation.
Soy reached again record levels so far this year, reaching $ 484 per ton, while the most actively traded contract in the futures market of Chicago was agreed at $ 501 per ton.
Again, the Internal Trade Secretary headed by Guillermo Moreno, authorized price increases in massive products. In total, fourteen companies of food, beverages and cleaning supplies were allowed to increase the values of their wares. During January and February, only one company had obtained the official nod to achieve increases.
The Central Bank of Argentina (BCRA) imposed new constraints for the Argentines traveling abroad that want to withdraw money from ATMs.
Finally, the Greek government achieved the support of private creditors for the debt swap, with the support of about 96% of the investors. The aim is to reduce the debt in 100.000 million euros. Thus, Greece opens the way for the IMF and the EU to implement the rescue.
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