• 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Your email address will not be published.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

Welcome to Brazil, a Paradise of Impunity for All Kinds of Criminals

Brazil has faced an explosion of violence and criminality over the last two decades, ...

How Corrupt Party Honchos in Brazil Work to Keep the Plunder Going On

Nobody can take it anymore. That’s enough! They all have gone way overboard. From ...

Brazilian Minister Gets UN Award for Reducing Deforestation by 50%

The Brazilian minister for the Environment, Marina Silva, is among the seven winners of ...

Google’s Lawyer in Brazil Calls Lawsuit Against Orkut Baseless

Google’s lawyer in Brazil, Durval de Noronha Goyos Jr. told reporters, yesterday, August 23, ...

Brazil President Taking Two Business Missions to China, One American

Brazilian president Dilma Rousseff’s official visit to China to happen between the 12th and ...

Race and Fantasy

By Brazzil Magazine Today Brazil has the largest single population of African-Americans outside of ...

New USAID Director in Brazil Will Oversee US$ 11 Million Budget

 The U.S. Agency for International Development (USAID) announced today, June 30, the swearing in ...

Egypt Seeks Closer Ties to Brazil and Mercosur

Egyptian interests were contemplated in the proposal of the declaration of the summit between ...

Gol Gets Its 100th Aircraft, a Boeing 737 Especially Designed for Brazil

With the delivery of its new Boeing, Brazilian Airline Gol and its subsidiary Varig ...