YPF’s stock soars as investors in the oil and gas company cheer the election of a new president in Argentina

The U.S.-listed shares of YPF SA YPF shot up 24.3% toward a one-month high in premarket trading Monday, as investors in the Argentina-based oil and gas company cheered the election of right-wing populist Javier Milei as the new president of Argentina. The stock’s rally was part of a broad gains in share of other Argentina-based companies, as the Global X MSCI Argentina ETF soared 12.2%, to put it on track to open at the highest price seen during regular-session hours since Sept. 5. Among other more-active components, shares of banker and insurer Grupo Financiero Galicia SA GGAL hiked up 14.5% and banker Grupo Supervielle…