|Bid||22.64 x 1200|
|Ask||28.00 x 1300|
|Day's Range||25.16 - 25.80|
|52 Week Range||21.57 - 33.95|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||-0.19%|
|Beta (5Y Monthly)||1.63|
|Expense Ratio (net)||0.59%|
Argentina could be headed for a massive bond restructuring, which puts its single country-focused ETFs on watch. Talks with the International Monetary Fund (IMF), its largest creditor, are expected to continue as a team of IMF economists are figuring out how to restructure about $44 billion in loans that Argentina is unable to pay back. “An IMF statement that supports a lenient restructuring offer would boost bondholder confidence,” said Mateo Reschini, a trader with Rosario-based brokerage LBO.
Wracked by political volatility, Argentine stocks and the Global X MSCI Argentina ETF (ARGT) tumbled last year. Stocks in South America's second-largest economy rallied in the fourth quarter, but couldn't recoup all of the 2019 losses and the market is again being tested to start 2020, prompting market observers to speculate on what to expect from Argentine markets under the newly elected Alberto Fernández. There are concerns that Fernandez is cut of the same cloth as former President Cristina Fernández de Kirchner (CFK), but indications are to the contrary.
Here is a look at the 25 best and 25 worst ETFs from the past week. Traders can use this list to find prospective candidates that have deviated too far from their longer-term trends, thereby serving as potential starting points for those looking to take on either short or long positions. Likewise, traders can also use this list to spot potential trend reversal opportunities that may offer a generous risk/reward. As always, investors of all experience levels are advised to use stop-loss orders and practice disciplined profit-taking techniques. To get access to all ETFdb.com premium content, sign up for a free 14-day trial to ETFdb.com Pro.
President Donald Trump announced the U.S. will restore tariffs on steel and aluminum imports from Brazil and Argentina in retaliation for their depreciating currencies that has affected U.S. farmers, but Brazilian stocks and country-specific exchange traded funds did not bat an eye. The iShares MSCI Brazil ETF (NYSEArca: EWZ) , the largest Brazil-related ETF, increased 1.6% on Monday. Investors were now looking forward to to Brazil's third quarter economic growth numbers that will come out on Tuesday.
The oldest and largest Argentina exchange traded fund listed in New York was on a torrid pace through the first seven months of 2019 only to fall on hard times falling a primary election that pointed to a new market unfriendly regime coming to power. “The country suffered severe financial deterioration after the August 11 primary elections, which showed an increased likelihood of victory by the opposition presidential candidate,” Fitch Ratings said in a recent note.
Argentina ETFs have fallen on hard times, but the country may find a helping hand from the International Monetary Fund as the institution stated its intent to help the Latin emerging economy work through its current crisis. On Thursday, IMF Managing Director Kristalina Georgieva revealed the Fund's intentions to help support Argentina's economy, but she added that they will wait to see the future policy framework adopted under the new leadership after the country holds an election later this month in which a change of government is widely predicted, Reuters reports.
After experiencing a steep plunge, Argentina country-specific exchange traded funds could warrant another look, especially with Buenos Aires and the International Monetary Fund taking steps to stabilize the economy. The Global X MSCI Argentina ETF (ARGT) and iShares MSCI Argentina and Global Exposure ETF (AGT) have plunged over 30% from their July highs to multi-year lows, and bargain hunters may be stepping back into this beleaguered market. Argentina's main stock index lost almost half its value in the weeks following a shock August 11 primary election that dealt a blow to market-friendly conservative President Mauricio Macri and sent the country’s debt market and peso currency reeling, Reuters reports.
Down almost 32% over the past month, the once high-flying Global X MSCI Argentina ETF (ARGT) , the largest US-listed ETF dedicated to stocks in Latin America's second-largest economy, is beset by political volatility. One glimmer of hope for the Argentina ETF is its largest holding, online retailer and e-commerce giant MercadoLibre (MELI). While note immune to Argentina's political volatility (the stock is down 20% over the past month), MercadoLibre still has the makings of a winner, according to some analysts.
Argentina country-specific ETFs continued to push higher Thursday for the second day as the government’s new capital controls help assuage market fears. On Thursday, the Global X MSCI Argentina ETF (NYSEArca: ...
August witnesses fluctuations in the US-China trade tensions, a gold surge, still-decent U.S. economic data points and maximum chances of a no-deal Brexit. These factors bring a few ETFs in focus.
Here is a look at the 25 best and 25 worst ETFs from the past trading month. Traders can use this list to find prospective candidates that have deviated too far from their longer-term trends, thereby serving as potential starting points for those looking to take on either short or long positions. Likewise, traders can also use this list to spot potential trend reversal opportunities that may offer a generous risk/reward. As always, investors of all experience levels are advised to use stop-loss orders and practice disciplined profit-taking techniques. To get access to all ETFdb.com premium content, sign up for a free 14-day trial to ETFdb.com Pro.
Life happens fast in financial markets and in the course of one trading day, a stock or exchange traded fund can go from hero to laggard. A day after President Mauricio Macri suffered a stunning defeat in a primary used to gauge candidates' popularity, Argentina's equity market lost nearly half its value. ARGT, the largest Argentina ETF trading in New York, is now saddled with an August loss of more than 28%.
In a single day earlier this month, stocks in Argentina, South America's second-largest economy, lost nearly half their value after pro-markets President Mauricio Macri lost a primary to Alberto Fernandez, a member of the Peronist party. With investors speculating about Macri's political future and at least one ratings agency downgrading Argentina's rating into highly speculative territory, the Global X MSCI Argentina ETF (ARGT) is lower by about 26% this month, a tumble that has nearly wiped all of the previously high-flying ETF's 2019 gains. While Argentina’s economy, South America’s second-largest behind Brazil, has not been perfect under Macri, he has been embraced by market participants there and helped engineer a critical bailout from the International Monetary Fund in 2018.
The past few years for Argentina have shown various shifts in trends, but after seeing a surge for their country-specific ETFs leading up to this past weekend, the surprising landslide election win for Alberto Fernandez switched momentum in a very opposite direction this week. As ETF Trends previously reported on the plunging value of the Global X MSCI Argentina ETF (ARGT) on Monday, which was the immediate response to President Macri’s loss. Based on a statement from Nikko Asset Management’s Raphael Marechal, it seems as though it’s going to continue being a volatile market for the South American nation.
ETF Trends CEO Tom Lydon joined "ETF Edge" host Bob Pisani and CFRA's Todd Rosenbluth on CNBC's "Halftime Report" on Monday to discuss how to make the most out of currency hedging ETF plays. “We haven’t been paying attention to currencies for a while," Lydon said. If you don’t hedge your currency with your overseas investment, you’re betting on that local currency.
After soaring last Friday ahead of Sunday's primary election, the Global X MSCI Argentina ETF (ARGT) plunged Monday, at one point shedding a quarter of its value after pro-markets President Mauricio Macri lost a primary to Alberto Fernandez, a member of the Peronist party. The party primaries are closely monitored in Argentina since they are held simultaneously and voting is obligatory, so they more-or-less act as a referendum on the candidates’ popularity in Latin American country or an early poll involving the entire electorate. Just 90 minutes into Monday's session, ARGT's volume was already more than nine times the daily average.
Argentina country-specific exchange traded funds bucked the general downbeat trend on Friday, climbing ahead of a tight presidential race with primary elections on Sunday to provide a signal on who might win in October's vote. Conservative President Mauricio Macri is facing an opposition ticket including ex-President Cristina Fernández, Washington Post reports. The party primaries are closely monitored in Argentina since they are held simultaneously and voting is obligatory, so they more-or-less act as a referendum on the candidates’ popularity in Latin American country or an early poll involving the entire electorate.