Argentina YPF shares end up on state takeover talk

YPF changes: Cristina Fernandez de Kirchner honors fallen soldiers earlier this month

The shares of Argentina's biggest energy company, YPF, closed 7.4% higher on Thursday ahead of an expected government takeover of the company.

YPF's stock has shed about 27% since the start of the year, hurt by media reports saying the government will either expropriate or buy a controlling stake in the company, which is majority owned by Spain's Repsol, Reuters reported.

Some local media say President Cristina Fernandez will make an announcement on Thursday evening regarding YPF's future, but government officials did not confirm this.

The company has come under fierce state pressure to increase oil and gas production as costly fuel imports eat into Argentina's trade surplus. Fernandez nationalized private pension funds and the…

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