Brazilian property owners boosted by strengthening of real
Brazilian property owners have been boosted by the news that the country’s stocks have advanced and the real has strengthened in end-of-year trading.
Reuters reported that the benchmark Bovespa stock index advanced by 0.46 per cent to 67,901.70, its highest level since December 16th.
The real also strengthened, having gained 0.6 per cent against the US dollar to 1.742, with exporters bringing in some of their proceeds before the end of the year.
Renato Bandeira de Mello of Futura Corretora, told the source that the Brazilian market remains good for 2010 expectations.
Brazilian property owners were also told that oil and gas firm OGX has found signs of more hydrocarbons in a well just off Rio de Janeiro’s coastline, which will add to a string of recent discoveries.
Meanwhile, Bloomberg.com reported that a central bank survey has improved its estimate on Brazil’s economy, which will grow by 5.08 per cent in 2010, up from a previous forecast of five per cent.
