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Brazil stocks up on renewed economic hopes

Brazil stocks up on renewed economic hopes

Brazilian stocks are up sharply on renewed hopes for the global economy after a leaked report suggested Citigroup performed well in January and February.
Sao Paulo's Ibovespa index was up 2.1 percent to 37,503 during the first 30 minutes of trading. The nation's currency, the real, rose against the dollar.
Tuesday's gains come after a memo from Citigroup Inc. chief executive Vikram Pandit surfaced. It indicates that the troubled U.S. banking giant enjoyed its best financial performance in over a year during the first two months of 2009.
Investors shrugged off news that Latin America's largest economy shrank in the fourth quarter of last year compared to the previous quarter. The government pegged the decline at 3.6 percent.


Updated : 2021-04-11 16:24 GMT+08:00