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Market Update: Bovespa Rises for Second Day
Brazilian stocks rose for a second session on Monday, with the benchmark Bovespa closing above the 129,000 level, driven by gains in the services and energy sectors. On the data front, Brazils financial institutions revised higher their outlook for Selic, now seen reaching 6.50% in 2021 from a prior 6.25%, according to the Central Banks Focus Market survey. Also, inflation is seen rising 5.90% in 2021 from a previous 5.82%, while GDP growth projections were lifted to 5%, from an earlier 4.85%. Companhia Brasileira de Distribuicao and Cogna Educacao SA were among the biggest gainers on the index, up 7.9% and 5.0%, respectively. [/s2If]
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