Thursday, 28 March, 2024, 7:11 PM
Advance Search
Home

Brazil stocks jump in biggest daily gain since 2008

Published : Sunday, 15 March, 2020 at 12:00 AM  Count : 184

BRASILIA, March 14: Brazilian stocks surged 13per cent on Friday, their biggest daily gain since 2008 on the prospect of global stimulus, but slumped on the week as fears grew over the damage the global coronavirus pandemic will inflict on Latin America's largest economy.
Brazil's stocks, bonds and currency all ended one of the most bruising weeks in history sharply lower.
The benchmark Bovespa index closed up 13per cent at 82,063 points . But despite the rally it is still down almost 30per cent so far this year, wiping out all the gains accumulated since President Jair Bolsonaro took office on Jan. 1 last year.
Market participants said huge price swings from one day to the next are typical of bear markets, an environment where an index or an asset is down 20per cent from its peak.
"What we're seeing today is just a reflection of a crazy week," said Jason Vieira, chief economist at Infinity Asset Management in Sao Paulo.    -Reuters









Latest News
Most Read News
Editor : Iqbal Sobhan Chowdhury
Published by the Editor on behalf of the Observer Ltd. from Globe Printers, 24/A, New Eskaton Road, Ramna, Dhaka.
Editorial, News and Commercial Offices : Aziz Bhaban (2nd floor), 93, Motijheel C/A, Dhaka-1000.
Phone: PABX- 41053001-06; Online: 41053014; Advertisement: 41053012.
E-mail: info©dailyobserverbd.com, news©dailyobserverbd.com, advertisement©dailyobserverbd.com, For Online Edition: mailobserverbd©gmail.com
  [ABOUT US]     [CONTACT US]   [AD RATE]   Developed & Maintenance by i2soft