Back

LatinNews Regional Monitor: Brazil & Southern Cone - 17 April 2020

In brief: Market reacts to political tensions in Brazil

* The index for Brazil’s São Paulo stock exchange (Ibovespa) fell for the second consecutive session after a volatile day yesterday (16 April), in reaction to concerns about the oil sector and political tensions at home. The 1.29% dip was driven by the poor performance of the shares of state-owned oil company Petrobras, and followed the news of the change in leadership in the federal health ministry as the coronavirus (Covid-19) pandemic continues to worsen in the country. The real, which had recovered slightly after plunging in March, depreciated 0.27% against the US dollar, closing the day at R$5.26/US$1.

End of preview - This article contains approximately 105 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

LatinNews
Intelligence Research Ltd.
167-169 Great Portland Street,
5th floor,
London, W1W 5PF - UK
Phone : +44 (0) 203 695 2790
Contact
You may contact us via our online contact form
Copyright © 2022 Intelligence Research Ltd. All rights reserved.