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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Paul Berliner who wrote (1950)	7/9/1999 10:30:00 AM
From: X Y Zebra	Read Replies (1) of 3536

Anyone hear anything on LatAm today? May be this... biz.yahoo.com BUENOS AIRES, July 8 (Reuters) - Argentina's key stock index fell more than 3.5 percent in late afternoon trade Thursday from continued market uncertainty stemming from growing labor strife and a drop on Wall Street, traders said. The MerVal (^MERV - news) shed 18.24 points, or 3.51 percent, to 501.39 points shortly before 1900 GMT/1600 local just above the psychological support level of 500. Investors remain wary of the domestic market, which has turned prey to labor unrest ahead of the Oct. 24 presidential vote. New York's benchmark Dow Jones Industrial Average fell 63 points, or 0.58 percent, to 11,121.83 points as U.S. bluechips stumbled while technology stocks gained. The movement on Wall Street only added to the downward momentum in Buenos Aires. ''It's clear the market is moving cautiously and selectively,'' said Gustavo Grillo of Agra Sociedad de Bolsa. Overall 40 stocks declined, one was up and another issue remained unchanged. Volume was light at $21.3 million.

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