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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Justa Werkenstiff who wrote (6656)	7/8/1999 9:51:00 PM
From: Justa Werkenstiff	Read Replies (1) \| Respond to of 15132

Argentina Keep this in the back of our minds: BUENOS AIRES, July 7 (Reuters) - Argentine shares closed broadly lower Wednesday rattled by a three-day-old trucking strike and the country's increasingly tense climate before elections. "Some foreign investors might be a bit unnerved by today's strikes and it would be logical to think this might continue going on until the elections," said Mario Zawadzki, a trader with Schweber brokerage. The MerVal <.MERV> index of most-traded shares closed down 1.66 percent at 519.63 points, an 8.82 point dip. Turnover was 35.9 million pesos compared to Tuesday's 41.5 million pesos. "People are a little worried. They're not betting on bonds or stocks at the moment until some really good news appears," said Augusto Farina, a trader with Capital Markets Argentina. Over a quarter of a million truck drivers have been protesting since Monday a new vehicle tax by blocking roads throughout Argentina, hampering food and fuel deliveries. The government has threatened to scrap constitutional guarantees and grant itself special powers by calling a state of emergency in order to end the strike. Argentina's political climate is becoming increasingly tense as the country nears presidential elections set for Oct Argentina's political climate is becoming increasingly tense as the country nears presidential elections set for Oct . 24, with both political contenders, so far neck-to-neck in polls, heating up their campaign. The bourse has already been on edge due to previous comments made by the two contenders over the need to ease Argentina's external debt burden, which exceeds $140 billion. IMF First Deputy Managing Director Stanley Fischer told La Nacion newspaper the statements were "less than encouraging." Thirty-three out of 48 stocks trading closed lower, five rose and 10 ended unchanged.