Argentine equities, bonds rise on Macri's moderate running mate

Argentine equities and over-the-counter bonds rose sharply on Wednesday after centre-right President Mauricio Macri chose a moderate, Peronist running mate for his re-election bid, a move that could broaden his voter base.

Argentina's benchmark Merval equities index had climbed 6.0% by late morning trade, while over-the-counter Argentine bonds climbed 2.0% percent. A closely watched JP Morgan country risk index fell 11 basis points to 848 points overall, continuing a more dramatic slide on Tuesday.