The country risk fell and the Stock Exchange recovered almost 7% after Tuesday's collapse

The Buenos Aires Stock Exchange rose today for speculative purchases after the collapse yesterday, in a market that continues expectantly to the development of the exchange market after the announcement of strict exchange controls over the weekend.

The country risk fell 7.8% to 2333 points thanks to a rebound in sovereign bonds while the best among Argentine assets was seen in the shares of local companies listed on Wall Street, where bounces of up to 17% were seen .

The S&P Merval stock index in Buenos Aires rose 6.94%, to 24,670.80 units, after collapsing 11.86% in the previous day, with papers that fell to 17%. A rebound that is not enough to recover what was lost on Tuesday, but that at least suggests the possibility of a floor for the collapse of local papers. Stock market levels are similar to those of two years ago, measured in pesos, and equivalent to those of 2014 if they are considered in dollars.

"Expecting a rebound in this market would not be strange, given opportunities for 'trading' that may arise. It is clear that it is not a strategy for any type of investor, even more, in the current times," said from Portfolio Personal Inversiones ( PPI).

The S&P Merval accumulates a collapse of 48% since the ruling party was defeated in the primary elections that were held on August 11, which takes away their chances of reelection.

ADR

The shares of Argentine companies listed on the US market, American depositary receipts (ADR), also performed positively. Among the most winning were the Superviell Bank action, with 2.72%, Grupo Financiero Galicia with 11.05% and Transportadora de Gas del Sur with 8.22%.

Meanwhile, Argentina's country risk moved down thanks to the rebound in sovereign bonds. It backed down 209 points and scored 2333 units (-7.80%), according to the index measured by JP Morgan.