Why does this look like spin to me?

http://biz.yahoo.com/rf/010424/n24399351.html Tuesday April 24, 5:02 pm Eastern Time Argentina shares rebound, fueled by CenBank hopes BUENOS AIRES, Argentina, April 24 (Reuters) - Argentina stocks closed firmer on Tuesday, rebounding from recent losses as hopes turned on the expected ousting scandal-plagued Central Bank President Pedro Pou, traders said. ADVERTISEMENT

A congressional commission was expected to recommend late Tuesday that the beleaguered Pou -- who has enraged Economy Minister Domingo Cavallo by refusing to relax monetary policy -- be fired amid accusations he opened the door to widespread money laundering in Argentina's banking system.

Traders said the move would cheer jittery markets.

``Today was partly profit-taking but it could be a technical rebound or it could the beginning of a change of direction,'' said trader Ruben Pasquali of Mayoral brokerage.

``But what's going to be crucial over the next few days are the Central Bank and the measures Cavallo takes,'' he added.

The benchmark MerVal (^MERV - news) garnered gains of 2.13 percent or 8.79 points, closing at 420.32 points. Advances outnumbered declines 31 to 15 while eight shares were unchanged.

Turnover was slightly below average at $27.1 million.

Argentine markets were rocked late last week as rumors of debt default and currency devaluation sent the country risk rating -- which measures Argentine debt against benchmark U.S. Treasuries -- soaring to some 1,300 basis points before it eased off.

As the frenzy subsided Tuesday, traders said the rumored replacement of Pou by Banco Galicia official Roque Maccarone could be received well in debt-ridden Argentina, which has been locked in 33 months of economic stagnation.

``Because Maccarone is well-regarded his appointment could bring a new calm,'' said trader Lucio Bruno of Montelatici brokerage.

Local heavyweight share, energy group Perez Companc pushed ahead three cents to $1.45 while financial holding group Grupo Financiero Galicia gained seven cents to $1.41 a share.

Telecom Argentina climbed nine cents to $3.05.

-- Anonymous, April 25, 2001

Answers

Well, to answer your question, I think it is because you have a good eye for it now.

I don't pretend to understand the article and all it means, but it does sound 'odd' to my ears.

-- Anonymous, April 25, 2001