LatinNews Daily - 14 September 2021

* The S&P Merval index for the Buenos Aires stock exchange in Argentina has risen by 5.5% after the poor performance of the ruling centre-left coalition, Frente de Todos, in the compulsory open primary elections (Paso) held on 12 September. The Paso, which determined the candidates for the 4 November mid-term congressional elections, delivered an unexpected and resounding victory to the right-of-centre Juntos por el Cambio (JxC) opposition coalition. Local brokerage firm Portfolio Personal Inversiones (PPI) said the election result was “surprisingly satisfying for the market”. As well as the strong performance of the Buenos Aires stock exchange and of Argentine stocks listed on Wall Street, Argentina’s country risk spread, measured by investment bank JPMorgan Chase, dropped to 1,448 basis points.

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