The Supreme Court decided to give President Mauricio Macri’s government a break. This was the first ruling issued by the new, fully-formed Supreme Court, after Justice Carlos Rosenkrantz was sworn in on August 22. Following the ruling, power-sector shares rose sharply in the Buenos Aires stock exchange. Electricity generation companies also saw increases, including Central Costanera, which saw its shares rise 4 percent and Central Puerto, 3.1 percent. Considering this ruling was due to a technicality, the Supreme Court didn’t extend its reach to all similar cases, meaning it could receive other cases in the future calling for electricity increases to be suspended.

Source: The Bubble September 06, 2016 19:41 UTC