Argentina ADRs advance after country seals $20 billion IMF deal, removes currency controls

U.S.-listed shares of Argentine firms jump after the South American country sealed a $20 billion, 48-month Extended Fund Facility deal with the International Monetary Fund last week

Argentina's central bank also announced on Friday that it will ease its foreign exchange market controls, allowing the peso to freely fluctuate within a moving band of between 1,000 and 1,400 pesos per dollar.

"The new floating exchange rate regime announced by the BCRA exceeded our expectations and, in our assessment, can positively contribute to the medium-term sustainability of the macroeconomic adjustment program being implemented in Argentina," Goldman Sachs analysts say in a note

State-run oil company YPF YPF.N gains 15.7% after HSBC upgrades to "hold" from "reduce"; Central Puerto CEPU.N rises 11.4%

Financials such as Grupo Supervielle SUPV.N, Banco Macro BMA.N, Banco Bbva Argentina BBAR.N and Grupo Financiero Galicia GGAL.O up between 11% and 15%

The Global X MSCI Argentina ETF ARGT.N advances 7.3%, touching its highest in over two-weks