Stocks Up: In One Day Brazil Wipes Out All July Losses

Brazilian real In a single trading session the São Paulo Stock exchange, the Bovespa, practically recuperated all the loses accumulated during this month. The Ibovespa, Bovespa's main index, went up 4.96 this July 15, closing the day at 51,296 points with a 6.45 billion Brazilian reais (US$ 3.33 billion) being traded.

While stocks had fallen by 5.04% during the month of July, this decline has now been reduced to 0.38%. The jump in stocks this Wednesday was the best since May 18.

The good performance is in part due to higher global prices for commodities. Among the companies whose stock value went up were Petrobras (3.95%), Vale (8.33%), Itaú Unibanco (4.17%), and Bradesco (4.31).

The chairman of the Central Bank of Brazil, Henrique Meirelles, said July 14 that the Brazilian interest rate is set in such a way that it suits the market conditions.

"We are taking that into account, and aiming at stability and predictability. I believe that the real interest rate may continue to drop," he asserted.

Meirelles said that Brazil is going to leave the crisis behind faster than the other economies. According to him, rising retail sales indicate that.

"We are gaining strength. Investment is increasing and the Brazilian industry is more competitive now," he claimed.


  • Show Comments (0)

Your email address will not be published.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.


You May Also Like

Gunmen in Brazil Trap Indians Cutting Off Their Water and Food

Brazilian gunmen hired by ranchers have been holding as prisoners a large group of ...

Revenge of the Right in Brazil?

About a month ago, when it became apparent that the center-right opposition in Brazil ...

Algiers Fair Brings in Arabs Willing to Partner with Brazilians

Brazilian company Tangará, a maker of powdered milk, has already closed five sale contracts ...

Brazil’s Romance with France and Iran, a Game of Power and Nukes

Recently a major petroleum producing country located in a region recognized for anti-Americanism and ...

Egyptian complex, in Rio, Brazil, will display around over 900 items

Sponsorless Archaeologist Builds on His Own Egyptology Complex in Brazil

Brazilian Egyptologist Cláudio Prado de Mello is building the first National Egyptology Institute in ...

Greepeacers Protest Brazil’s Nukes and Go to Jail

As a form of protest, 11 Greenpeace activists sealed the doors today at the ...

Brazil Market’s 10% Slump Shuts Trade for 30 Minutes. Lula Pans US Casino

Brazil's stock market plunged this Monday, September 29, 334 points or 9,36%, the worst ...

Green Movement Grows in Brazil a New Crop of Alternative Fertilizers

In the interior of Brazil, in rural properties, the manure of animals in paddocks, ...

Brazilian Design with an Eye for the Ecologically Correct

Headquartered in Belo Horizonte, capital of the southeastern Brazilian state of Minas Gerais, CWT ...