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:

You May Also Like

Brazilian Industry Grows Slightly in 9 Regions and Shrinks in 5

Among the 14 regions researched every month by the IBGE (Brazilian Institute of Geography ...

Brazilian Shoe Exports to Middle East Grows Above Average

Brazilian shoe industries had revenues of US$ 15.5 million with exports to the Arab ...

Sound Paparazzo

STOCK MARKET By Brazzil Magazine Born: Valinhos, São Paulo, August 6, 1910 Died: São ...

Alliant Energy Settles in Brazilian Arbitration

Alliant Energy Corporation, announced today the settlement of an arbitration award the company received ...

Lucky for Him, Brazil’s Lula Is Father of the Poor and Mother of the Bankers

I received quite a few messages in recent weeks, all of them overflowing with ...

More Wikileaks: Corruption, Amazon Paranoia and Uncritical Brazilian Media

A Wikileaks cable says that the president of Brazil,  Luiz Inácio Lula da Silva ...

Second Group of Iraqi Refugees Arrives in Brazil

The United Nations High Commissioner for Refugees (UNHCR) announced that the second group of ...

Brazilian and US Scientists Get Inside and Promising Look of Degenerative Brain Disease

Scientists for the first time have watched agents of brain-wasting diseases, called transmissible spongiform ...

Getting Ready for the Olympics Hundreds of Police Agents Take Back 9 Slums in Rio

In an flash operation on Sunday, the Rio do Janeiro police, in Brazil, with ...

Brazil and Neighbors Get UN Money to Monitor Birds Flying South

The United Nations’ Food and Agriculture Organization (FAO) signed a US$ 500,000 agreement with ...

WordPress database error: [Table './brazzil3_live/wp_wfHits' is marked as crashed and last (automatic?) repair failed]
SHOW FULL COLUMNS FROM `wp_wfHits`