Displaying items by tag: bovespa
Thursday, 10 June 2010 12:00
Brazil stocks down as China flashes slowdown signs
Brazilian stocks fell Tuesday, struggling in their first session in June after China, Brazil's biggest trading partner, posted signs of a slowdown in its economy.
Brazil's Bovespa fell 1.9% to 61.840.99, wiping out its 1.8% rise on Monday. The index tracking the largest Latin American equity market finished May with a 6.6% decline -- its steepest since October 2008.
Stock in pulp and paper producer Fibria Celulose also fell, by 4.5%.
A rise in the U.S. dollar against the euro helped pushed most dollar-denominated commodity prices lower, hurting Brazil's resource-rich market. Safe-haven buying into the greenback was supported by data showing a pullback in manufacturing activity in China.
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Asian News
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