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Financial News: BRAZIL: Ibovespa Cuts Losses And Ends Stable Amid

BRAZIL: Ibovespa Cuts Losses And Ends Stable Amid Rumors Of Reform Vote

11/25/2017 - 09:12:00 (RTTNews)

(RTTNews) - Ibovespa, the benchmark stock market index in Brazil, reduced losses to close slightly down (-0.04%) THursday at 74,486.57 points, influenced by rumors that the Brazilian government intends to get its pension reform bill voted by the House of Representatives on December 5.

"The trading day was all in the negative. China opened lower, the United States was closed, but in the middle of the afternoon, news emerged that the reform vote would start on December 5, and perhaps extend to December 6," said H. Commcor's chief operating officer, Ari Santos.

According to an operator of Guide Investimentos, the holiday in the United States punished the Brazilian market, reducing flows and leaving the business "stuck" during the day.

He added that the rumor regarding the voting schedule of the pension reform bill cheered investors, but it was not enough to bring volume.

Meanwhile, on a day marked by low liquidity due to the Thanksgiving holiday in the United States, the locally traded U.S. dollar fell 0.40% to R$ 3,222, reflecting investors' hope that the Brazilian government could approve the pension reform in December.

That was the fifth consecutive trading session in which greenback receded, reaching the lowest level since October 20 (R$ 3.19).

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