European open – Markets, Argentina, UK jobs

Aug 13 07:08 2019 Print This Article

Europe lower as Argentina returns to the headlines

It’s shaping up to be another rocky session on Tuesday, with political chaos once again driving the headlines as Argentina once again finds itself in a sticky situation.

Source – Thomson Reuters Eikon

Unfortunately, we can’t blame the Argentinian political situation for the sea of red we’re seeing globally as investors continue to fret about the global slowdown and impact of the trade war. It’s been a tough summer already and it may get tougher yet, with there being little for investors to cheer about.

The primaries in Argentina certainly caught the eye of investors though, as President Macri suffered a humiliating defeat in a damning indictment of his policy agenda that markets may like but the public does not. While the election was effectively only symbolic, it does not bode well ahead of the actual election in October and investors did not see the scale of the defeat coming. If the reaction is anything to go by, further turbulence looks guaranteed.

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