Home > Uncategorized > World Cup ’10: Brazil out, Brazil’s stock trading Dropped to The Lowest Levels This Year.

World Cup ’10: Brazil out, Brazil’s stock trading Dropped to The Lowest Levels This Year.

Brazil’s stock trading which dropped to the lowest levels this year in the coursework of soccer’s World Cup, will rebound after the match favourite was eliminated, according to MM Milioni Investimentos in Sao Paulo.

Stock trading on the Bovespa exchange fell as Brazil’s national soccer team sought its sixth World Cup title, sliding to the lowest level this year on June 28 as Brazil beat Chile 3-0 to reach the quarterfinals. The earlier 2010 lows were June 15 & June 25, when Brazil played North Korea & Portugal in first-round matches.

The worth of stocks that changed hands sank to the third-lowest level this year yesterday as the Netherlands upset Brazil 2-1 to reach the semifinals. Brazilian banks shortened their business hours on game days & the nation’s securities regulator shutdown, according to a statement.

“Now investors are going to return & volumes ought to return to normal,” said Milton Milioni, president of MM Milioni Investimentos & counselor for Brazil’s analyst association. “It was odd that the market was left open even when the banks were closed.”

Equity trading on the Bovespa fell to 4.1 billion reais ($2.3 billion), 40 percent less than the average for the earlier year, on June 15, the day Brazil played North Korea. The every day value ought to return to 4.5 billion reais to 5 billion reais, said Guilherme Sand, who helps manage 380 million reais at Solidus Brokerage in Porto Alegre, Brazil.

“I think volumes ought to increase but Brazil is very tied to soccer, so people are still going to have an interest in who wins,” said Sand, who will be rooting for France because they has descendants from the European nation.

Via :  Bloomberg.

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