Reuters: Regulatory News: STXNEWS LATAM-Argentine stocks hit by gov't reform plan

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STXNEWS LATAM-Argentine stocks hit by gov't reform plan Oct 23rd 2012, 16:52 Tue Oct 23, 2012 12:52pm EDT Argentine stocks slumped in midday trade, hit by losses in foreign markets and investor fears that a government proposal to reform financial market regulations could lead to greater state intervention. The benchmark MerVal share index was down 3.51 percent at 2,370.77 points, led by banking stocks including Banco Macro , which was down 3.64 percent at 9.25 pesos per share. President Cristina Fernandez said late on Monday she would send a capital market reform bill to Congress to make it easier for ordinary Argentines to invest and to give the country's CNV securities regulator new powers including more control over credit ratings agencies.

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