Brazilian stock has sixth consecutive day of fall

15:07, May 21, 2010      

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Brazil's Sao Paulo Stock Exchange's (Bovespa) Ibovespa indicator registered on Thursday its sixth consecutive fall, closing at 58,192 points, down 2.5 percent from Wednesday and the lowest figures registered since early September.

In the week, the Ibovespa accumulated a fall of 8.23 percent. In May, the fall reaches 13.8 percent, and in 2010, the accumulated fall amounts to 15.1 percent.

The trade volume negotiated on Thursday reached 7.95 billion reais (4.27 billion U.S. dollars).

The bad results have been attributed to the crisis in Europe. Additionally, the Brazilian Institute of Geography and Statistics also released earlier in the day its projection for May's inflation rate -- 0.63 percent, up from 0.48 percent in April.

Bovespa's blue chips registered bad results on Thursday: mining giant Vale's preferential stocks were down 3.85 percent at 37.50 reais (20.17 dollars). The company's ordinary stocks were down 3.63 percent, to 43.85 reais (23.58 dollars).

The preferential stocks of state-controlled oil and gas giant Petrobras were down 3.92 percent, closing at 27.43 reais (14.75 dollars), while ordinary stocks were down 3.51 percent, closing at 31.06 reais (16.70 dollars).

The U.S. dollar value was up 1.25 percent on Thursday, and the Brazilian Real-U.S. dollar exchange rate closed at 1.859 reais a dollar. It was the sixth consecutive rise in the currency's value.

The U.S. dollar has undergone a valuation of 3.04 percent this week and of 6.9 percent in May. In 2010, the U.S. currency's valuation reaches 6.6 percent.

Source:Xinhua

(Editor:黄蓓蓓)

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