Brazil stocks inch up after 2 days of losses

Associated Press
2008-09-25 06:49 AM

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Stocks on Brazil's benchmark index rose slightly Wednesday after two days of losses brought on by fears that the U.S. might not pull off a plan to rescue financial companies and prevent a global economic slowdown.

Sao Paulo's Ibovespa index closed up 0.5 percent to 49,843. Brazil's currency, the real, fell 1.1 percent against the U.S. dollar.

The Ibovespa fell 3.8 percent a day earlier as investors dumped emerging market shares in favor of investments considered less risky.

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