Brazil Papers

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Brazil Papers

Brazil Papers

Paper 1

Brazilian stocks opened to slight seesawing on Friday, as a holiday in the United States and overall caution about the global economy may lead to a day of light trading. The benchmark Bovespa index .BVSP inched down 0.04 percent to 51,045.28 in early trading. The U.S. stock markets were closed on Friday in observance of Independence Day, which falls on a Saturday this year.

"The volume should be really light today," said Januario Hostin Jr., an analyst with Leme Investimentos, in a phone interview. "Today it's more about adjusting positions." The Bovespa index lost 1 percent on Thursday and the Dow Jones Industrial average (Berger Richard 2004 110-2). DJI 2.6 percent as gloomy U.S. jobs data spooked already-nervous investors. A global economic recovery, the data suggested, might not be imminent after all.

Brazilian equities often shadow U.S. markets, which investors use to measure international sentiment. Yet in Brazil, tentative green shoots emerged on Thursday, with industrial production up in May and inflation in Sao Paulo, Brazil's largest city, slowing from the previous month. New car sales also reached an all-time high in June, buoyed by a government tax break introduced in December.

The foreign exchange market was flat in mid-morning, with neither Brazil's currency, the real (BRBY: Quote, Profile, Research) or the dollar moving against each other more than incrementally. Major countries should support the dollar as the main international currency, a Japanese official told Reuters on Friday. But China wants a debate on a new global reserve currency when Group of Eight leaders (G8) meet with the G5 emerging economies next week in Italy, G8 sources told Reuters (Pratt 2003 67-9).

Market has announced the addition of Global Markets Direct's new report "Brazil Neurology Devices Investment Opportunities, Analysis and Forecasts to 2015" to their offering. This report is an essential source for in-depth information and data relating to the Brazilian neurology devices market. It also offers detailed and comprehensive coverage of market revenue, volume, distribution and company share information; and latest news, financial deals and pipeline products information of each of the key sub-segments of the neurology devices in Brazil.

LBA is an international research initiative under the leadership of Brazil. The project focuses on the climatologically, ecological, biogeochemical, and hydrological functions of Amazonia; the impact of land use change on these functions; and the interactions between Amazonia and the Earth system. The LBA-ECO component, which is funded by NASA, focuses on the question: "How do tropical forest conversion, regrowth, and selective logging influence carbon storage, nutrient dynamics, trace gas fluxes, and the prospect for sustainable land use in Amazonia?"

No relevant U.S. or Brazil data releases were slated for Friday, adding to the relative stillness of the equity and currency markets (Said 2003 38-9).

CE March sugar futures are firmer, as the market rebounds modestly from Monday's sharp sell-off. Traders are awaiting the latest data from Brazil. Unica, the Brazilian sugarcane association, is scheduled to release its latest harvest data. "The harvest has been slowed a lot because of wet weather," one New ...
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