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Market Update: Brazil Stocks End Near Record Close
Brazil’s benchmark Bovespa stock index gained slightly to 130,080 on Thursday, not far from closing high of 130,776 hit on Monday, amid hopes of a solid economic recovery in 2021 and expectations that the country’s central bank would continue to tighten monetary policy to support the real. In addition, investors across the globe welcomed the US CPI report for May that suggested the growing inflationary pressure should be temporary. On the political front, investors remained concerned over the possibility of President Bolsonaro taking non-conventional decisions in the run-up to presidential elections next year. On the corporate front, shares of planemaker Embraer jumped after its subsidiary, Eve Urban Air Mobility Solutions, entered merger talks with Zanite Acquisition for a potential $2 billion deal. [/s2If]
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