FOREX TradingCharts.com

Financial News: BRAZIL: Stocks Fall 3.37%, The Steepest Decrease In

BRAZIL: Stocks Fall 3.37%, The Steepest Decrease In Nearly A Year

05/17/2018 - 18:42:00 (RTTNews)

(RTTNews) - Ibovespa, the benchmark stock market index in Brazil, fell 3.37% to 83,621.94 points Thursday, posting the steepest one-day decrease since May 18, 2017, when the index plunged 8.08% in reaction to a corruption scandal involving President Michel Temer's close allies.

The Ibovespa was hit by profit-taking after the Brazilian central bank surprising decision to keep the benchmark interest rate unchanged at 6.5%. Risk-aversion abroad also weighed on the index.

"The stock market was hit by a perfect storm. There was a communication error from the central bank, and clearly there is risk aversion, something that is not exclusive to Brazil. Higher yields in US Treasuries are making investors run to safe-havens," said Elite Corretora's analyst, Louise Barsi.

The Ibovespa started the session in negative territory, but deepened its losses at the end of the session, as investors left their positions in liquid stocks, like Ital Unibanco (ITUB4 -5,02%) and Petrobras (PETR4 -4,60%).

Alvaro Bandeira, the chief-economist at Home Broker Modalmais, said that the Brazilian stock market correction would be short-lived. He added that investors should keep an eye on the US dollar, but believes that inflation in Brazil will remain low.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2018 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Australia's Consumer Confidence Improves Further (22 min(s), 04 sec(s) ago)
(RTTNews) - Australia's consumer confidence improved for the sixth straight time during the we ...Full Story»

BRAZIL: Stocks Fall As Ibovespa Hits Lowest Level Since February (41 min(s), 56 sec(s) ago)
(RTTNews) - Ibovespa, the benchmark stock market index in Brazil, fell for the third straight sess ...Full Story»

ARGENTINA: Merval Falls After Rising In Eight Straight Sessions (57 min(s), 56 sec(s) ago)
(RTTNews) - After rising in eight consecutive sessions, Merval, the benchmark stock market index i ...Full Story»

COLOMBIA: Colcap Falls To Lowest Level In More Than A Month (42 min(s), 56 sec(s) ago)
(RTTNews) - Colcap, the benchmark stock market index in Colombia, fell for the fourth straight ses ...Full Story»

BRAZIL: DI Rates End Lower Before Copom Minutes And Eyeing Treasury Action (24 min(s), 56 sec(s) ago)
(RTTNews) - The one-day interbank deposit futures rates (DI rates) in Brazil ended lower, weighed ...Full Story»

Japan Supermarket Sales Data Due On Tuesday (23 min(s), 56 sec(s) ago)
(RTTNews) - Japan will on Tuesday release April figures for supermarket sales, highlighting a ligh ...Full Story»

(UPDATE) BRAZIL: Candidate Ciro Gomes Defends Tax On Financial Transactions (11 min(s), 56 sec(s) ago)
(RTTNews) - Ciro Gomes, the only Brazilian presidential candidate to show increasing popularity am ...Full Story»

BRAZIL: There Is No Room To Cut Fuel Taxes, Minister Says (01 min(s), 56 sec(s) ago)
(RTTNews) - There is no room to cut fuel taxes in Brazil at this time, said the country's Fina ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Australia's Consumer Confidence Improves Further

05/22/2018 - 00:15 AM (RTTNews)
(RTTNews) - Australia's consumer confidence improved for the sixth straight time during the we ...Full Story>>

BRAZIL: Stocks Fall As Ibovespa Hits Lowest Level Since February

05/21/2018 - 19:19 PM (RTTNews)
(RTTNews) - Ibovespa, the benchmark stock market index in Brazil, fell for the third straight sess ...Full Story>>

ARGENTINA: Merval Falls After Rising In Eight Straight Sessions

05/21/2018 - 18:35 PM (RTTNews)
(RTTNews) - After rising in eight consecutive sessions, Merval, the benchmark stock market index i ...Full Story>>

COLOMBIA: Colcap Falls To Lowest Level In More Than A Month

05/21/2018 - 18:20 PM (RTTNews)
(RTTNews) - Colcap, the benchmark stock market index in Colombia, fell for the fourth straight ses ...Full Story>>

BRAZIL: DI Rates End Lower Before Copom Minutes And Eyeing Treasury Action

05/21/2018 - 18:02 PM (RTTNews)
(RTTNews) - The one-day interbank deposit futures rates (DI rates) in Brazil ended lower, weighed ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.