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Hello and welcome back to our market roundup, when we sum up the most important goings-on in Brazilian markets.
🔔 The dashboard: The Ibovespa benchmark stock index was down 5 percent this week. The Brazilian Real, meanwhile, lost 4.3 percent against the U.S. Dollar. Investors were jittery after the government announced its plan to lower state-level fuel taxes and compensate local administrations’ financial losses.
- Biggest gains: Qualicorp (insurance), +4.01 percent.
- Biggest drops: Positivo (technology), -20.2 percent. Last week, Positivo posted the biggest gains in the Brazilian stock market.
Retail results better than expected — but trouble is ahead
Brazil’s official statistics agency…
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