Brazil’s Bovespa beats world’s biggest stock markets
Brazil’s Bovespa Index is beating some of the world’s biggest markets in terms of fastest retail sales growth, according to new reports.
Those thinking of buying property in Brazil may be pleased to hear that it is experiencing the fastest growth in sales in its metals, oil and sugar industries.
Bloomberg reports that the Dow Jones Industrial Average, Japan’s Nikkei 225 Stock Average and the UK’s FTSE 100 Index, as well as benchmarks from six other large equity markets, all fell more than the Bovespa last month.
During February the Bovespa gained 6.7 per cent and its market value rose above $500 billion (£250 billion).
William Landers, a fund manager at BlackRock in Plainsboro, New Jersey, invests in Latin American assets he manages in Brazil.
He told Bloomberg: "Brazil still looks very attractive from a valuations perspective…We still see plenty of upside for these stocks."
In New York this week the 2008 Brazil Real Estate Summit will take place, highlighting investment opportunities in the nation to those considering buying property there.
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