Brazil stocks gain on heels of overseas markets
Brazil's stocks opened stronger on Monday on the heels of rising equity markets in the U.S. and Europe, while the local currency strengthened on easing oil prices and optimism about the domestic economy.
The main Bovespa index of the Sao Paulo Stock Exchange was 0.84 percent higher at 23,977 points, adding to gains from last week that left it at eight-month highs.
Brazil's currency, the real, was 0.18 percent stronger at 2.835 reais per U.S. dollar. Traders said the currency was improving as yields spreads between Brazilian sovereign bonds and comparable U.S. Treasuries narrowed.
(From Reuters, October 04, 2004)
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