Brazilian stock market records seven-month low

16:16, May 19, 2010      

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Brazil's Sao Paulo Stock Exchange's Ibovespa indicator dropped 3.22 percent to 60,841 points, the lowest level since October 2009.

It was the Ibovespa's third consecutive fall. So far this month, the Brazilian stock market has accumulated a fall of 9.9 percent. In 2010, the Ibovespa fell 11.3 percent.

The decline was mainly attributed to the crisis in Europe, which caused the euro to drop sharply, as well as to the poor performance of some sectors in the domestic market.

The preferential stocks of Brazil's largest private company, mining giant Vale, were down 3.86 percent on Tuesday, closing at 40 reais (21.97 U.S. dollars). The company's ordinary stocks closed at 46.40 reais (25.49 U.S. dollars), down 3.61 percent from Monday.

The U.S. dollar rose 0.55 percent to 1.82 against the Brazilian reais on Tuesday.

Source:Xinhua

(Editor:黄蓓蓓)

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