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Market Update: Stocks in Brazil Hit All-time High
Brazils main stock index climbed for the seventh straight session on Friday, with the benchmark Bovespa closing above 130,000 for the first time, driven by gains in the real estate and services sectors. A weaker-than-expected US jobs report eased concerns that the Federal Reserve would start tightening monetary soon while still pointing to a solid recovery in the US labour market. On the data front, a PMI survey showed the Brazilian services sector shrank for the 5th straight month but the least in the current sequence amid a return to stability in new orders. The index advanced more than 3% this week, recording its third consecutive week of gains. [/s2If]
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