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BRAZIL-STOCKS
Brazil stocks top 110,000 points for first time
SAO PAULO, Dec 5, 2019 (BSS/AFP) – Brazil’s stocks topped 110,000 points
for the first time Wednesday, tracking gains on global markets following an
upbeat report on US-China trade talks.
Bloomberg quoted people familiar with the negotiations as saying a partial
deal could be finalized soon that would avert new tariffs threatened for
later this month.
Official data showing the third straight monthly increase in Brazil’s
industrial production also underpinned gains on the Bovespa.
After punching above 110,000 during the session, the benchmark index went
on to close at a record high of 110,300, up 1.23 percent on the previous
day’s finish.
The Bovespa has made strong gains this year on hopes that pro-business
President Jair Bolsonaro, who took power in January on a promise to revive
the economy, can push his ambitious reforms through Congress.
Figures released Tuesday showing Brazil’s economy — Latin America’s
biggest — accelerated in the third quarter also boosted investor confidence.
BSS/AFP/HR/1015