Buenos Aires stocks plunge 4.2%

Buenos Aires stocks opened slightly lower, with the Merval benchmark stock index moving down by 1.5 percent, to 2,752.49 points. So far this month it has experienced gains of 3.7% and losses of 21% in 2011. The negative slant was caused by the delay on opening due to some technical difficulties with the computer system.

Meanwhile, Argentina's country-risk rose by 2.1% to 825 basis points in the JP Morgan EMBI index.

The leading panel of stocks in Buenos Aires suffering a delayed start on its open this morning due to technical difficulties with the operations system, and finally opened at 1.40 pm. The working day was extended to 6 pm due to the setbacks caused.