SAO PAULO, 10 October 2008: Affected by the global financial crisis, FBOVESPA, the Brazilian stock market exchange index fell by 3,97 per cent Friday 10th of October and 20 per cent throughout the whole week.
In line with Wall Street and other stock exchanges, after showing signs of improvement Thursday, the tensions returned Friday and when the drop reached 10,19 per cent the so-called Circuit breaker mechanism was activated for the third time this week to reestablish the equilibrium between buyers and sellers in unstable market conditions as the ones facing the financial market at the moment. The accumulated loss for this month in FBOVESPA is 28,12 per cent.
This weekend, the Brazilian finance minister Guido Mantega and director of the Central Bank joins the G-20 forum to discuss the consequences of the crisis and solutions for the world economy.
Kilde: Gazeta Mercantil, www.gazetamercantil.com.br
