Petrobras lost 7.4% while YPF shares fell by 5.4%.

Monday, January 5, 2015

Buenos Aires stocks sink 5.6% led down by oil shares

Buenos Aires stocks plunged today, with the Merval benchmark stock index falling by 5.6% to 8,298.01 points, led down by drops in oil companies shares.

In the beggining of the first working week of the year, Brazilian Petrobras and Argentinean YPF state-controlled companies were by far the biggest drag in Buenos Aires Stock Exchange, after international oil prices fell to fresh 5 and a half year lows.

Petrobras lost 7.4% while YPF shares fell by 5.4%.