Argentine GDP-warrant prices tumble on U.S. court ruling

BUENOS AIRES Thu Nov 22, 2012 10:20am EST

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BUENOS AIRES Nov 22 (Reuters) - Argentina's dollar-denominated growth-linked warrants plunged almost 9 percent to an ask price of 74.00 in midday trade in Buenos Aires following a U.S. court ruling that raised investor fears of a possible technical default.

The South American country's efforts to leave behind its massive 2002 default suffered a stinging blow late on Wednesday when U.S. District Judge Thomas Griesa ordered immediate payment to holders of defaulted bonds that shunned two debt restructurings.

Local trade was thin due to the U.S. markets holiday.

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