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 The falling prices of oil, which hurt state-controlled oil multinational Petrobras, the most important company listed in the Brazilian stock exchange, were a main contributor together with the international bad mood to another slump, this Friday, October 24, in the Brazilian market.
Brazilian shares dropped 6.91% to 31,481 points. According to consultancy company Economática, the accumulated results for 2008 are the worst in the history of the Brazilian stock market.
In October alone the market has fallen 36.5%, the fourth worst result for Bovespa, the Brazilian stock exchange. When the whole year up to October 24 is considered, the drop is a staggering 50.7%. Brazil never had it so bad. In terms of points the Ibovespa, Bovespa's main index, hasn't been that low since November 2005.
On Friday, among the main companies listed by Bovespa, Petrobras fell 10.13% to 20.40 reais, mining company Vale lost 5.36% to 22.05 reais, Bradesco bank dropped 7.36% to 20.01 reais.
Four interventions by the Brazilian Central Bank (BC) were not enough to avoid the appreciation of the dollar. Once again, the greenback had a tortuous day throughout the trading session closing at 2.327 to the dollar, a 0.95% increase from the previous day.
The dollar went up 10% this past week, accumulating a 22% increase in the month of October. For the year the gain for the American currency has been over 30%. At the end of 2007, one dollar was worth 1.77 reais.
Brazil's central bank said Wednesday it would pump the equivalent of US$ 50 billion into currency markets to stem a two-month tumble in the real that is threatening companies and stoked inflation.
Authorities said the injection will be in the form of contracts that will allow investors to protect against further declines in the Brazilian currency. Brazilian Finance Ministry, Guido Mantega, announced that it had scrapped a key tax that foreigners pay on financial market transactions.
Brazilian prices as measured by the IGP-10 index of wholesale, consumer and construction costs rose 0.78% in the month ended to October 10 after declining 0.42% the previous month.
Brazil's Bovespa had rebounded Thursday from early losses trading up 0.38% to 35,203.38. On Wednesday the index had plunged more than 10% and trading was suspended automatically when it fell more than 10%.
Earlier in the week Brazil allowed its two largest state-run banks to buy stakes in financial firms, some of which it says could be facing difficulties from the drying up of credit in domestic markets. The government also increased credit lines to farm and construction industries.
The Finance Ministry said it had eliminated a tax known as the IOF which was 1.5% on currency exchange for inflows of foreign capital and 0.38%on foreign currency loans.
Later, the Central bank held two auctions of dollar swap contracts worth a total of 2.27 billion USD. It said it was ready to expand its sales of such contracts to 50 billion USD, prompting the Real rebound.
Bzz/Mercopress
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The small, coastal town of Condé is located just a twenty minute's drive from João Pessoa, the capital of Paraíba. The Northeast of Brazil has historically been a place of encounter and mixing between peoples. For millenia groups of indigenous people fished, farmed, migrated and sometimes fought along this large, fertile area. 
The Brazilian diplo-MÁ-cia (bad diplomacy) carries on its accelerated course towards the non-acknowledgment of human rights, although sometimes it takes pleasure in saying that it does precisely the opposite. The visit of Iran's president, Mahmoud Ahmadinejad, is another example of a diplomatic omission that verges on hypocrisy. 
On July 4, 2006, representatives of Argentina, Brazil, Paraguay and Uruguay met in Caracas to sign the protocol for the entrance of Venezuela into the Southern Common Market (Mercosur). After two and a half years, the protocol was approved by the legislative bodies of Argentina and Uruguay, and as of now it may be only days away from being ratified by the continent's economic megalith, Brazil. 
Some sectors of the fight against AIDS have suggested that Thabo Mbeki, the former president of South Africa, committed genocide through his absence from the fight against the illness in his country throughout his two terms. 
One hundred and eleven years after Brazil abolished slavery, the number of workers deprived of their freedom is still huge. They raise cattle, produce charcoal, sugar cane or timber. Some of them, most undocumented Bolivians, work in basements of small apparel factories in São Paulo and other metropolis. 
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Geisy Arruda made history this week in Brazil, but for all the wrong reasons. What began as a poorly planned fashion statement has become a worldwide tale. Geisy decided to wear a pink mini-dress to her private college in São Paulo state, and after that, all hell broke loose. 
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A dispute over drug trafficking territory in Rio de Janeiro has intensified lately, leaving in its wake unprecedented acts of violence, such as the downing of a police helicopter in the northern zone of the city on October 17. Three policemen died and another two were injured. This event has drawn the attention of the international media, who are raising the issue of public security for the 2016 Olympics to be held in Rio.
Petrobras went from US$ 75.- to 21.-
Cia Vale from 40.- to 10.-
.....in less than 6 months !!!!!
But also in Local currency
Aracruz from Brl 15.- to 2.20
Gafisa from Brl 36.- to 12.- despite the Brazilian Real Estate market is still shiny....as per AES
Rossi Residential from Brl 30.- to 3.-
JBS from 10.- to 3.-
Sadia from 14.- to 4.-
do the maths in US$...and it becomes a tragedy !!!!!
and not necessarily from the Bovespa top area
Gol from Brl 84.- to 8.-
Cosan went from Brl 63.- to 9.- while they still should be profitable....as per the Brazilian ethanol costs analysis SOFTWARE !!!!!! smiles
but...but...but.....dont worry :
LULA confirmed many times that Brazil is.....IMMUNE !!!!!!!!!!
Trust HIM !