Fernández’s defeat in parliamentary primaries sparks euphoria in Argentine stocks on Wall Street

Rises of 17.04% in Central Puerto and 10.87% in Pampa Energía reflect the trans-Andean shares' euphoria started this week on Wall Street. In contrast, the Merval rose 5.5% at a local level, the country risk fell 4%, and the blue dollar dropped 2.2%.

RIO DE JANEIRO, BRAZIL - "We must have done something wrong", lamented Argentine President Alberto Fernández in light of the defeat suffered by his coalition in the parliamentary primaries, known as PASO, which unleashed a diametrically opposite reaction in the financial market.

Rises of 17.04% in Central Puerto and 10.87% in Pampa Energía reflect the Argentine shares' euphoria started this week on Wall Street. In contrast, the Merval index rose 5.5% at a local level, the country risk fell 4%, and the blue dollar dropped 2.2% to 181 Argentine pesos per dollar, in its biggest . . .

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