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Argentine market traders cautiously cheer 'future without Cristina'

BUENOS AIRES/NEW YORK (Reuters) -Argentine traders cheered on Wednesday a court's political ban on populist former President Cristina Fernandez de Kirchner, a powerful but divisive politician who often clashed with investors and creditors. The country's Supreme Court on Tuesday upheld a ruling against the former president, who was sentenced to six years in prison and banned from holding public office for fraud, rejecting an appeal by the leader of the Peronist opposition. "The specter that always looms over investors is Kirchnerism and Argentina's falling back into policies of that nature."

ArcelorMittal's Canadian unit to close Hamilton wire drawing mill, lay off 153 workers

The unit's wire drawing mill in Hamilton, Ontario, will be shut down permanently in the coming weeks. This comes after the U.S. hiked tariffs on steel and aluminum imports, effective June 4, for all trading partners except Britain. Canadian companies and a major union last week warned of job losses and lost sales resulting from higher U.S. levies on steel and aluminum, as Canada prepares for reprisals over the metal tariffs.