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Friday, July 18, 2014

Third Point's Loeb takes stakes in Fibra Uno, YPF, Royal DSM, (NYSE: YPF)

Daniel Loeb, head of hedge fund firm Third Point LLC, said in his quarterly investor letter dated Friday that he expects market volatility to continue and that he is optimistic on Argentina.Loeb, an activist investor, said Argentina is likely to reach an agreement with its holdout creditors by yearend and that his $14 billion firm has taken a stake in Argentine oil company YPF SA, in addition to stakes in Mexican REIT Fibra Uno and in Dutch life sciences company Royal DSM.Loeb said an agreement between Argentina and its holdout creditors would "undoubtedly benefit the Argentinian economy"."We hope to uncover additional investment opportunities in Argentina as it emerges from its long malaise," he said.

YPF SA is an Argentina-based integrated oil and gas company. Shares of YPF traded higher by 4.95% or $1.77/share to $37.50. In the past year, the shares have traded as low as $15.36 and as high as $38.84. On average, 1967270 shares of YPF exchange hands on a given day and today's volume is recorded at 3928997.