YPF Surges on Argentine Shale Oil Discovery: Buenos Aires Mover
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YPF SA, Argentina’s largest crude company, led gains by major Latin American stocks after saying that it discovered as much as a 1 billion barrels of shale oil resources in the western province of Mendoza.
YPF’s American depositary receipts rose as much as 8.8 percent intraday, the biggest gain among 457 stocks in major Latin American indexes, according to data compiled by Bloomberg. It gained 5.3 percent to close at $28.60 in New York.