Bovespa booms by 15%
Those considering buying property in Brazil could be interested to hear the nation’s market is getting back on its feet after the global downturn, it has been reported.
Following seven days of losses the Brazilian stock exchange (Bovespa) gained 15 per cent yesterday (October 13th), according to the Brazzil Magazine.
State-owned oil giant Petrobras and mining firm Vale witnessed surges of 12 and 13 per cent respectively.
The report states this is the biggest such single day climb the Bovespa has made since stocks surged 33.4 per cent on January 15th 1999.
Yesterday the Brazilian Central Bank announced it is to inject more than $47 billion (£26.7million) into the market through changes in the bank’s compulsory deposits rules.
Meanwhile, it is being reported by the publication that President Luiz Inacio Lula da Silva claims the days when emerging economies are dependent of the International Monetary Fund are gone.
He added the days when Latin American nations have no voice in international affairs were similarly over also.
