Foreign Investors Flee Brazil’s Stock Market

São Paulo, Brazil, stock market, the Bovespa Brazil's stocks partly recovered (0.16%) on Friday, July 4, after their worst week in nearly a year with the São Paulo Bovespa index, the Ibovespa, falling 7.7% – below the 60.000 benchmark – in line with global markets and concerns about oil prices and rising inflation.

Bovespa officials also revealed on Friday that the São Paulo stock exchange closed June with a deficit equivalent to US$ 4.06 billion, which means that contrary to what happened in April when there was virtually a flood of foreign capital, the inflow this last month was negative.

In April, the Bovespa operations had a surplus of US$ 3.7 billion but beginning in May foreign capital began leaving and closed the month with a mere US$ 300 million plus.

In June, the São Paulo stock exchange lost 10.43%, with foreign purchase of Brazilian stocks totaling US$ 28.3 billion, but sales jumped to US$ 32.95 billion and the resulting loss of money volume.

However in spite of a very adverse June, the Bovespa managed to close the first semester with a surplus of foreign investment of US$ 3.3 billion, mostly because of the several public offerings with foreigners wanting to change currency into stock assets.

Mercopress

Tags:

You May Also Like

Brazil Mourns Loss of Pioneer Woman Writer

Writer Rachel de Queiroz, who would be 93 in two weeks, had a very ...

Brazil Cuts Interest Rates and Market Comes Tumbling Down

Latin America turned sharply lower across the region, alongside U.S. market weakness. Some analysts ...

Brazil Wants Rules Changed by IMF and Co.

Brazil’s Minister of Cities, OlÀ­vio Dutra, wants Brazil to revise its relationship with international ...

Brazil Anticipates Sugar Cane Harvest to Guarantee Supply of Ethanol

Farmers in the Center-South region of Brazil began harvesting their sugarcane crop two months ...

Brazil Forum Discusses High Price to Export, from Infrastructure to Red Tape

The National Foreign Trade Forum (Enaex), a traditional event held by the Brazilian Foreign ...

Brazil’s Embraer Sells Less Planes, But Still Makes Record US$ 3.8 Bi

Brazilian aircraft manufacturer Embraer released on Friday, March 31, their balance for 2005. Considering ...

Brazil Will Use Digital TV to Expand the Internet

Brazil’s Minister of Communications, Hélio Costa, affirmed that there is an expectation that digital ...

Bulk of Brazil’s Petrobras Investment to Be in US, Venezuela and Argentina

Brazil’s government owned oil company Petrobras announced plans to invest US$ 56.4 billion in ...

Beloved Grumpy

If Monteiro Lobato had written in English, there’s no doubt that today he would ...

Brazil’s Crowd Crooner

Orlando Silva (1915”“1978) was Brazil’s greatest male singer during the radio era (and in ...