Wall Street cheers after Argentina's populist ex-president loses vote

[Bacchus4.0]

http://www.weny.com/story/36130395/wall-street-cheers-after-argentinas-populist-ex-president-loses-vote

NEW YORK (CNNMoney) -- Many voters in Argentina showed no interest in tangoing again with their former president.

Cristina Fernandez de Kirchner, a staunchly populist leader, narrowly lost a primary vote on Sunday for a senate seat.

Investors cheered Kirchner's loss. Argentina's peso rallied 3.2% Monday morning, its best gain of the year. Its stock market, the MERVAL, gained 3.6% after opening, one of its best rallies of the year.

Argentina's current president, Mauricio Macri, is a pro-business, pro-trade leader. He's been trying to do a 180-degree pivot away from Kirchner's policies and revive Argentina's battered economy.

[sandensea]

1. No. Macri halted the vote count at 2 a.m. with the two parties within 0.1% of each other.

Last edited Mon Aug 14, 2017, 02:32 PM - Edit history (1)

But with 2/3 of the uncounted precincts in mostly Peronist areas, Kirchner's party is guaranteed a win (these were primaries, mind you).