UPDATE 1-Argentina's bonds, stocks show signs of stabilisation after crash
(Adds U.S.-listed Argentine stocks)
LONDON, Aug 13 (Reuters) – Argentina’s government bonds and stocks showed signs of a stabilisation on Tuesday after they plunged following a defeat for the country’s President Mauricio Macri in weekend primary elections.
Prices indicated by the broker Jefferies showed all of Argentina’s main dollar bonds from its 2021 maturing debt to its 2117 “century” bond up 0.5 cents on the dollar.
U.S.-listed shares of Argentinian bank Banco Macro rose 5% and Grupo Supervielle was up 10% in premarket trade after losing more than half their value on Monday.
The rout had been brutal. The peso collapsed 15%, equities dropped 48% in dollar terms — the second-biggest one-day slump anywhere since 1950 — and the 100-year bond tumbled 20% as fears grew of yet another government default.
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