Tuesday, 7 October 2014

Brazilian stocks jump, currency rebounds

Stocks rose on Monday, with the MSCI All-Country World Index climbing 0.4 percent.

Brazil’s Ibovespa in particular jumped 4.7 percent after Aecio Neves won a surprise second-place finish in voting at the weekend to force a runoff election with President Dilma Rousseff.

The Brazilian real appreciated 1.3 percent to 2.4272 per US dollar, rebounding from a five-year intraday low of 2.5073 per dollar on Friday.

The STOXX Europe 600 rose 0.2 percent on Monday but the S&P 500 bucked the trend by falling 0.2 percent.

European stocks rose despite weak economic data on Monday.

Markit reported that its eurozone retail PMI fell to 44.8 in September from 45.8 in August.

And in the euro area's largest economy, Germany, factory orders fell 5.7 percent in August, the most since 2009.

No comments:

Post a comment