With risk mounting in other places around the world, Brazil's stock market is heating up at just the right time. The country's benchmark Bovespa Index has risen for four straight days since hitting its cheapest level since May last week.
What's more is that Brazil's stocks are poised to surge even further as its economy storms back from recession and investment firms rush to cash in on the country's upside.
"The investment environment is probably the best in 20 years," Geoffrey David Cleaver, who manages a $500 million private equity infrastructure fund at the Sao Paulo unit of Banco Santander SA (NYSE ADR: STD), said last week at an event in New York.
- Brazil's Stock Market is Heating Up at Just the Right Time
- Tax on Foreign Investment Won't Dent Brazil's Currency
- The World's Most Exciting Market - Until They Spoiled it
Beginning today (Tuesday), Brazil will impose a 2% tax on foreign investment in the country's stocks and bonds. Analysts have called the move a "desperate" bid to reign in the skyrocketing value of its currency, which has gained more than 30% against the dollar this year. The tax will make it more difficult for companies […]
Over the past year, Brazil has established itself as one of the most exciting markets in the world for investors. Its Bovespa stock index is up 55% this year. And the discovery of the huge new Tupi oil field off its east coast has led some investors to refer to Brazil as the "New Saudi […]