|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||29.65 - 30.05|
|52 Week Range||24.21 - 30.34|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.79%|
Argentina's equities are jumping higher after the ruling coalition did better than expected in primary legislative elections Sunday. The results highlight greater-than-expected support for President Mauricio Macri’s reform agenda at the expense of left-wing populism, Capital Economics writes. The Global X MSCI Argentina exchange-traded fund (ARGT) was up 3.3% today, while the iShares MSCI Emerging Markets ETF (EEM) was up 1.3% and the iShares MSCI Frontier 100 ETF (FM) was up 1.9%.
Credit ratings agency S&P Global raised its long- and short-term national scale ratings on South Africa to zaAAA/zaA-1+ from zaAA-/zaA-1 late Friday. It explains: "Today's rating action resulted from a recalibration of the South Africa national scale mapping table, and does not reflect any change in the fundamental credit quality of South Africa or of the sovereign's outstanding debt. The purpose is to provide a rank-ordering of credit risk within the country." Moody's Investors Services, which had a ratings decision on South Africa scheduled for Friday, was silent, giving South Africa a reprieve after a vote of no confidence in President Jacob Zuma failed earlier this week.
One of the worst-performing developing-country funds today is the Herzfeld Caribbean Basin Fund (CUBA) after U.S. and Canadian officials confirmed they are investigating "bizarre incidents" and health symptoms experienced in late 2016 among diplomats who were stationed in the country. The iShares Latin America 40 ETF (ILF) was up 0.5%, the iShares MSCI Frontier 100 ETF (FM) was up 1% and the iShares MSCI Emerging Markets ETF (EEM) was up 0.3%. "A variety of physical symptoms" experienced by U.S. diplomats, staff members and their families last fall were not life threatening, but some diplomats left the country and the U.S. expelled two Cuban diplomats earlier this year.