• Categories
  • Archives

Brazil Markets Start Year Subdued

Brazilian equities began 2005 in a downslope performance, as investors booked some gains following recent record market highs. Following on the steps of  U.S. stocks, which declined on weak November construction data, Brazil’s benchmark Bovespa Index dropped 474.24 points, or 1.81%.

Brazilian shares pulled back, as investors logged profits following the market’s record highs of last year’s final days. Still, market watchers noted that investors have good reason to continue buying local shares as a new tax cut on capital gains to 15% from 20% will take effect starting January 3.


In the news, Brazil posted a trade surplus of US$ 33.70 billion in 2004, up nearly 36% from 2003, breaking all prior records for the second-straight year as exports reached new highs.


Exports surged 32% on the year to US$ 96.48 billion, as imports firmed 30% on the year to US$ 62.78 billion.


Brazil’s trade surplus is booming due to a competitive currency, structural changes in the economy and surging worldwide demand for commodities that are driving export income to record levels.


Turning to corporate items, shares of Brazilian beverage giant AmBev were active alongside movement in Belgium-based parent company InBev. InBev, the world’s largest brewer, announced it is buying a stake in Russia’s No. 2 brewery, Sun Interbrew Ltd.


Thomson Financial Corporate Group
www.thomsonfinancial.com


PRNewswire

Tags:

  • Show Comments (2)

  • Guest

    argh
    :zzz :zzz πŸ˜• πŸ˜• :sigh: :sigh: 😑 😑 πŸ™ πŸ™ πŸ˜₯ πŸ˜₯ [B]Meanies thanks for nothing!!!![/B]

  • Guest

    Interested in…
    Knowing more so give me a clue. writing a report and soooo confused.

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Juvenal Ouriço. Who is this guy?

Juvenal was a stutterer. When narrating the games he would finish describing the moves ...

Doha-SΓ£o Paulo Daily on Qatar Airways’s Boeing 777s

Qatar Airways, starting in June, will operate daily flights between Doha and SΓ£o Paulo. ...

Exxon Mobil Leaves South America. Brazil’s Petrobras Wants Its Assets

Brazil's state-controlled oil company Petrobras, Venezuela's PDVSA and two Argentine groups are all interested ...

US Economic Troubles Draw Brazil Marble Firm to Middle East

Granibras, Granitos Brasileiros, a Brazilian company that sells marbles and granites, sees the Arab ...

After Mexico’s Success Brazil Considers Selling 100-year Bonds

The Brazilian government is thinking about selling 100-year bonds after Mexico succeeded in offering ...

A Brazilian Hammock Maker Just for Gringos

Everything produced by Jobek, a hammock manufacturer from Fortaleza, city in the northeastern Brazilian ...

Brazil Discredits US Report on Human Rights Abuse

Brazil’s special secretary of Human Rights, Minister NilmΓ‘rio Miranda, affirmed yesterday that the Brazilian ...

Brazil-Emirates Maiden Direct Flight Has Brazilians at the Helm

The Emirates airline flight that left Guarulhos International Airport, in SΓ£o Paulo, on the ...

GE Sets Up in Brazil Technology Center for All of Latin America

American company General Electric announced that it intends to set up a technology center ...