Home Business Brazil stock market in record-breaking path, fueled by optimism in economy

Brazil stock market in record-breaking path, fueled by optimism in economy

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Brazilian stock market edged up to an all-time on Tuesday (Jan.16), as prospects of economic growing fueled optimism. The benchmark Bovespa index hit 80,246.331, for the first-time ever breaching the 80,000 mark, At the end of Tuesday’s session Bovespa index closed at 79,831.8.

Economic activity in Brazil expanded for a third straight month in November, the longest stretch of gains since 2014, suggesting strong momentum at the end of the year, according to Brazil’s Central Bank economic activity index. In November, activity rose 0.49 percent from  the previous month after seasonal adjustments.

Brazil’s GDP likely grew around one percent last in 2017, after a two-year period of contraction. Economists forecast 2.8 percent to three percebt growth in 2018.