The Buenos Aires market closed on Wednesday after falling four consecutive cars, thanks to the interest of institutional investors for the financial and energy sector.
Index Merval de Bolsas and Mercados Argentinos (BIMA) scored 2.9% to 29,313 points, after the accumulation decline of 9% since last Thursday.
The largest increase was recorded by Pampa Energia (6.3%), Banco Supervielle (4.9%) and Banco Macro (4.8%). In the meantime, the actions of central Puerto were the only ones that ended in a negative sign, decreasing by 0.4%.
Recovery came when Kongres is expected to approve the 2018 budget.
"Today (yesterday) will be a key day for the future of fiscal policy and meeting the targets agreed with the IMF. The Senate is preparing to vote on the budget for 2019 and the government believes there is enough number to turn it into a law," the brokerage Society SBS.
The Senate debated today's afternoon budget in 2019, presented by the government of President Mauricio Macrie, in the final step to reforming a rigorous project agreed with the IMF.
In the meantime, Argentine shares rose more than 8% on Wednesday, with most of Wall Street's winnings. Among ADR's local companies, The most important were the increases in the financial group Banco Galicia (8.3%), Banco Macro (7.9%) and Pampa Energia (6.8%).
Rava Bursatil points out that "the only negative amount is traded in private papers, which continues at very depressing levels." The volume of operations in shares in this respect reached only 511 million dollars.
In the fixed income segment of the main bond in dollars (listed in pesos) They finished with mixed results. Discounts under Argentine law rose by 0,7%, Bonar 2024 rose by 0,4%, and Bonar 2020 had a small improvement of 0,1%.
Finally, country risk is measured by JP Morgan remained stable at 637 basis points, after rising 3.2% on Tuesday (the highest growth in 40 days).