©Reuters. The Sao Paulo Stock Exchange loses 0.32% weighed down by oil
Sao Paulo, Jul 5 (.).- The shares of the state oil company Petrobras (NYSE:) sank this Tuesday weighed down by the sharp drop in the price of the oil and dragged down the Sao Paulo Stock Exchange, whose index lost 0.32% , to stand at 98,294 points.
The prices of barrels of crude oil in the international market registered a sharp drop due to fears that a possible slowdown in economic growth could cool down the demand for fuel.
Petrobras stocks were among the day’s biggest losses. The preferential ones, the most negotiated of the day, fell 3.81%, while the ordinary ones left 4.27%.
The titles that lost the most, however, were those of the oil company Petroleum, which sank 7.44%.
At the other end were the shares of the retail network Magazine Luiza, which climbed 11.74%.
During the day, 22,623 million reais (about 4,205 million dollars) were traded, as a result of 4,004,461 financial transactions.
In the foreign exchange market, the dollar rose 1.21% against the real and was trading at 5.388 reais for purchase and 5.389 reais for sale at the commercial exchange rate.