By Ingrid Bachmann
One day after the sudden death of former Argentine president Nestor Kircher, the stock of the country's largest media conglomerate, the Clarín Group, jumped an unusual 34 percent in Buenos Aires, reported Reuters. The Buenos Aires stock market was closed yesterday for a national holiday.
The Clarín Group had been involved in an openly confrontational relationship with Kirchner, who was the husband of current President Cristina Fernández and who was considered Argentina's most powerful politician. The growing conflicts between the federal government and Clarín include the new media law that obligates Clarín to sell off various of its radio and television holdings.
On Wednesday, Clarín's shares that trade on the London market also rallied strongly, improving 46.9 percent shortly after news of Kirchner's death, explained Fortunaweb. However, at the end of the day the net growth was only 9.32 percent.
According to the Wall Street Journal, just hours after the former president's death other bonds and shares from various Argentine companies also jumped on Wall Street and other international markets.
Note from the editor: This story was originally published by the Knight Center’s blog Journalism in the Americas, the predecessor of LatAm Journalism Review.
