Brazil is a global leader in energy, agricultural, technology, and industrial sectors, with transportation equipment and parts accounting for $14.3 billion in 2007, followed by metal goods at $9.8B, and agricultural products at $9.8B, according to The Economist
Brazil is also a pioneer of ethanol production as well as deep water-oil research
In April 2008, Standard & Poor’s upgraded Brazil’s long-term foreign-currency credit rating from BB+ to BBB- for the first time in the history of the country, potentially opening the door to further foreign investment.
The Brazilian real has appreciated by 11.41% year-to-date against the US dollar, with one US dollar purchasing 1.576 reais.
Brazil’s current interest rate stands at 13.00%
Markets: Brazil’s Stock Exchange (BOVESPA) is Latin America’s largest stock exchange tracing it roots back to August 1890.
- Brazil’s BOVESPA is off by 28.82% from its record intraday high of 73,920.38, hit on May 29, 2008
- Year-to-date, it is down 10.21%
- From 12/06 to 12/07, Brazil’s BOVESPA was up 43.65%
Some Winning Brazilian ADRs traded in the US include:
- Tele Norte Celular Participacoes (TCN), up 41% year-to-date (YTD)
- Gerdau (GGB), up 41% YTD
- Companhia Paranaense de Energia (ELP), up 35% YTD
- Sadia (SDA), up 34% YTD
- Companhia Energetica de Minas Gerais (CIG), up 28% YTD
- Companhia Brasileira de Distribuicao (CBD), up 27% YTD
- Companhia Siderurgica Nacional (SID), up 24% YTD
- Tele Norte Leste Participacoes (TNE), up 24% YTD
- CPLF Energia (CPL), up 21% YTD
- Telemunicacoes de Sao Paulo (TSP), up 19% YTD
Some Brazilian ETFs include:
- iShares MSCI Brazil Index (EWZ), down 3.77% YTD
- Wisdom Tree Dreyfus Brazilian Real Fund (BZF), up 3.86% in the last three months
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