World Markets

Argentina assets tumble after return to capital controls

Credit: REUTERS/MARCOS BRINDICCI

Argentina's assets got hammered on Monday with international dollar bonds tumbling to record lows and stocks in financials suffered sharps falls after President Mauricio Macri authorized currency controls on Sunday. [nL2N25S07B]

LONDON, Sept 2 (Reuters) - Argentina's assets got hammered on Monday with international dollar bonds tumbling to record lows and stocks in financials suffered sharps falls after President Mauricio Macri authorized currency controls on Sunday.

Benchmark international 2028 dollar bonds 040114HQ6= dropped more than 2 cents to a fresh record low of 36.58 cents, according to Refinitiv data.

American depository receipts (ADRs) of Argentina's financial institutions also came under pressure. Grupo Financiero Galicia's Frankfurt-listed ADR GGAL.BA, GGALYB.F fell 9.15% while Banco Macro SA BMA.BA, BSUY.F dropped 6.5%.

(Reporting by Karin Strohecker; Editing by Tom Arnold)

((karin.strohecker@thomsonreuters.com; +442075427262; Reuters Messaging: karin.strohecker.reuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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