BrazzilMag

Since 1989 Trying to Understand Brazil

----------

cheap cocktail dresses

----------

Brazilian Male Enhancement Review at Breastsenlargementreview.com

----------

Brazilian Breasts Enlargement Cream

----------

Brazilian Top Breast Enlargement Reviews

----------

Brazilian Male Enhancement Pills at Breastsenlargementguide.com

----------

bruidsmeisjes jurken

----------

vestidos de noche

----------

ballkleider

----------

Cheap Prom Dresses

----------

Churrasco Equipment and Brazilian Meat Skewers

----------

Vestidos Noiva em Weddingmart.pt

----------

Australia Fashion Online Outlet store

----------

Robe de cocktail

----------

Our good partner Everbuying.com provides wide selections of products at best price for worldwide free shipping.

----------

Cheap Dre Beats

----------

Buy Cheap Nike Mercurial Soccer Cleats from MercurialCity now!

----------

Shopping Reviews

----------

Custom Search

Who's Online

We have 335 guests online

Statistics

Members : 4414
Content : 13068
Content View Hits : 80493706

Search BrazzilMag

Bulls Stampede in Brazilian Market: Stocks Jump 13.42% PDF Print E-mail
2008 - October 2008
Written by José Wilson Miranda   
Tuesday, 28 October 2008 23:03

Brazil stock exchange After five days of steep decline the Brazilian market went into extremely high gear, this Tuesday, October 28, zooming up 13.42%, the second biggest gain of the year, losing only to the 14.66% jump registered on October 13.  The Ibovespa, the main index of Bovespa, Brazil's stock exchange, closed at 33,386 points after trading 4.9 billion reais (US$ 2.3 billion).

The surprising result, however, was far from encouraging for those who have been investing in Brazil. The accumulated Bovespa losses still total 47.7% for the year and 54.6% compared to the market peak last May 20. 

Meanwhile, after sharp gain in recent weeks the dollar went down a few notches for the second straight day. In the first two days of the week the greenback lost 6.23%, closing at 2.183 reais per dollar. The American currency has shot up 14.5% since the beginning of the month.

Brazilian investors are betting that the Fed will cut interest rates in the US again, this Wednesday, encouraging foreigners to go back to Brazil's stock market. All the 66 companies listed in the Ibovespa index went up.

Finance Minister, Guido Mantega, announced that the government will offer a new 3 billion reais (US$ 1.4 billion) line of financing to help the building sector. The news was enough to catapult construction companies trading at Bovespa. Cyrela's shares for example, climbed up 33.55%, to 10.35 reais. Gafisa also had a dramatic 29.5% jump to 13.99 reais.

It was also a sunny day for financial institutions and commodity-linked companies. The steel firm Companhia Siderúrgica Nacional's shares gained 21.7% making their share a 28 reais value. Among banks, Unibanco got the best of it, reaping a 13.9% increase to 11.71 reais a share.

Despite the market euphoria Mantega didn't have an optimistic tone. Talking to entrepreneurs participating in the 3rd National Encounter of the Industry, the minister told them that the financial crisis will last long and will have strong impact in the real economy. "It's going to slow down the whole world. This is becoming clear right now."

Mantega believes that  lack of credit will be one of the main causes for the reduction of economic activity throughout the world. "It is impressive," he said, "how the lack of credit can propagate to the world economy. There's a forecast of economic recession that I hope will not turn into a depression. This is the challenge for the advanced countries. The economic packages only mitigated the problem, but the credit problem hasn't been solved yet."

The minister also said that the Brazilian government is considering the possibility of delaying charging taxes as a way to deal with the crisis. That would be in response to a request made by Armando Monteiro Neto, the president of the CNI (National Confederation of Industries).

Trade Deficit

For the eighth time this year, Brazil posted a weekly trade deficit. According to figures supplied by the Brazilian Ministry of Development, Industry and Foreign Trade, exports in the fourth week of October totaled US$ 4.023 billion, a figure lower than that of imports (US$ 4.121 billion), resulting in a trade deficit of US$ 98 million.

The last weekly trade deficit this year had been recorded in the fourth week of August, and totaled US$ 840 million. So far this month, the balance of trade is running a surplus of US$ 776 million, as against US$ 3.432 billion during the same period in 2007.

So far this month, exports total US$ 14.964 billion and imports, US$ 14.188 billion. In the accumulated result for the year, the trade surplus is now US$ 20.432 billion, the result of US$ 165.832 billion in exports and US$ 145.4 billion in imports. From January until the fourth week of October 2007, the trade surplus was US$ 33.589 billion.

Comments (5)Add Comment
Volatile markets
written by Falupa, October 29, 2008
These are such volatile markets right now. The markets are so volatile right now. It is hard to tell whether the markets have bottomed out. I don't know if I should invest in the global markets or stick to CD's and gov. bonds. The US markets jumped over 10% yesterday the second highest in it's history! I don't know if I should jump on board or sit back and see what happens.
Suzanne Ormans Advice...
written by dnbaiacu, October 29, 2008
I don't know if I should jump on board or sit back and see what happens.


"With money, do what makes you feel powerful"

In the end , the "power" you "feel" (emote) with what you do with it
Is in your imagination.

The valuable things of the rich are his strong town, and they are like a protective wall in his IMAGINATION Proverbs 18:11

Totally stress free way of looking at things. smilies/smiley.gif smilies/wink.gif smilies/smiley.gif
" Doubt is natures way of saying "PAUSE".
Heard that somewhere on Oprah smilies/cheesy.gif smilies/cheesy.gif smilies/cheesy.gif. But makes sense. smilies/wink.gif
Being "centered" ,, 'staying in the moment" while being a hard worker and being "thankful", relieves all that doubtful stress.
smilies/wink.gif
On this account I say to YOU: Stop being anxious about YOUR souls as to what YOU will eat or what YOU will drink, or about YOUR bodies as to what YOU will wear.

 So, never be anxious about the next day, for the next day will have its own anxieties. Sufficient for each day is its own badness.

Matthew 6:25,34
Metaphysics ROCKS! smilies/cheesy.gif smilies/cheesy.gif
This is the SCIENCE that matters smilies/cheesy.gif smilies/wink.gif
I think Darwin would agree had he lived long enough smilies/wink.gif
"With money, do what makes you feel powerful"
written by ch.c., October 29, 2008
So true !
What then at the start and the end with those with Noooo money, due to their minority elite having taken care for most of the
Country and Government Money ???????

smilies/cheesy.gif
On this account I say to YOU: Stop being anxious about YOUR souls as to what YOU will eat or what YOU will drink, or about YOUR bodies as to what YOU will wear.
written by ch.c., October 29, 2008
Why dont you preach this to your 45 millions of UNDER nourrished citizens ????

No doubt LULA will hire you right away and name you Minister FOR Poverty......of course with a licence for corruption !
Why give as much as Us$ 0,30 per day (Bolsa Familia) for apparently 3 delicious meals as HIS Highness said publicily more than once ?

"Stop being anxious about YOUR souls as to what YOU will eat or what YOU will drink, or about YOUR bodies as to what YOU will wear." should become LULA motto !!!!!

And deaths squads ? No problem....they should be multipléied by 10 ! With a Government mandate to clean poverty !!!!!!


Hmmmmm
Funny Ch.c
written by dnbaiacu, October 30, 2008
smilies/cheesy.gif smilies/grin.gif smilies/cheesy.gif smilies/grin.gif smilies/cheesy.gif

I know you know what was meant.. But I enjoy your sarcsasm.
Yes it is unfortunate to be poor. And they will always be around with these man made governments. But they can at least not pass the misery on and stop having so many darn kids. smilies/cry.gif
I you know you hardly have enough to eat , why keep "sexing" indiscriminately. It makes me sad to see so many innocent children brought here so carelessly.

Write comment

security code
Write the displayed characters


busy
 
Joomla 1.5 Templates by Joomlashack
Unable to locate the file:ad_network_ads.txt