Argentine stocks have suffered due to the business unfriendly government, and as a result, some dividend paying stock is cheap. One such opportunity exists with property management stock Alto Palermo (APSA, quote) based in Buenos Aires.
The Argentina oil industry has been more or less reduced to a utility under a presidential decree announced last Friday. But the new rules don’t provide the kind of monopoly risk profile usually associated with lower margins.
Tuesday’s best web covers BP’s unsuccessful attempt to secure a dividend from TNK-BP, the Argentinian economy, ASEAN politics, Jim O’neill’s latest comments, and the global gold supply.
With most of the euro zone on holiday yesterday, traders around the world turned to the U.S. session for directional cues. U.S. stocks rallied on manufacturing data Tuesday morning and shrugged off the Chicago PMI and China’s disappointing PMI, only to finish well off the highs.
Markets today reacted to multiple pieces of positive news from China overnight. A higher than expected Purchasing Managers’ Index and lower than expected inflation reading both helped markets to move up.
Even though American indices were up on this balmy Friday, markets around the world did not fare as well with European concerns trumping good numbers from emerging market telecom giant América Móvil on many exchanges.