Vespasianus
Princeps thermarum
Brazil’s Ibovespa rose the most among the biggest global benchmarks on speculation there’s increasing support to impeach President Dilma Rousseff, potentially clearing the way for a new government that would restore growth and shore up the budget.
Lender Itau Unibanco Holding SA contributed the most to the gauge’s advance. Petrochemicals maker Braskem SA was the best performer on the Ibovespa after announcing the start of operations of a unit in Mexico.
A measure of volatility of Brazil’s benchmark equity index is at the highest in 15 months as investors watch developments in a political crisis and corruption scandal that has brought congress to a standstill and exacerbated the country’s recession and fiscal woes. As lawmakers discuss a request to oust Rousseff over government accounting, newspaper O Estado de S.Paulo reported Thursday that there are 259 votes for impeachment, 110 against, 69 lawmakers who are undecided and 75 who didn’t answer. The count yesterday was 234 votes for, 110 against.
"Investors have been betting that a new federal administration will be able to revive the economy,” Paulo Henrique Amantea, an analyst at brokerage Picchioni, said from Belo Horizonte. “We expect a lot of ups and downs until the final conclusion is reached."
The Ibovespa gained 0.9 percent to 48,540.33 at 11:13 a.m. in Sao Paulo as all but 14 of its 61 stocks climbed. Itau advanced 1.5 and Braskem added 3.5 percent.
(Bloomberg)
Lender Itau Unibanco Holding SA contributed the most to the gauge’s advance. Petrochemicals maker Braskem SA was the best performer on the Ibovespa after announcing the start of operations of a unit in Mexico.
A measure of volatility of Brazil’s benchmark equity index is at the highest in 15 months as investors watch developments in a political crisis and corruption scandal that has brought congress to a standstill and exacerbated the country’s recession and fiscal woes. As lawmakers discuss a request to oust Rousseff over government accounting, newspaper O Estado de S.Paulo reported Thursday that there are 259 votes for impeachment, 110 against, 69 lawmakers who are undecided and 75 who didn’t answer. The count yesterday was 234 votes for, 110 against.
"Investors have been betting that a new federal administration will be able to revive the economy,” Paulo Henrique Amantea, an analyst at brokerage Picchioni, said from Belo Horizonte. “We expect a lot of ups and downs until the final conclusion is reached."
The Ibovespa gained 0.9 percent to 48,540.33 at 11:13 a.m. in Sao Paulo as all but 14 of its 61 stocks climbed. Itau advanced 1.5 and Braskem added 3.5 percent.
(Bloomberg)
