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Montevideo, November 14th 2018 - 15:31 UTC

In Brazil, the Real and Bovespa stock index recovered slightly on Wednesday

Thursday, September 6th 2018 - 09:04 UTC
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Prosecutors accused market-friendly presidential candidate Geraldo Alckmin of accepting improper donations from scandal plagued company Odebrecht Prosecutors accused market-friendly presidential candidate Geraldo Alckmin of accepting improper donations from scandal plagued company Odebrecht

In Brazil, the Real currency and benchmark Bovespa stock index strengthened slightly on Wednesday. Political uncertainty in Brazil took a toll after judicial authorities canceled the release of a closely-watched opinion poll on technical grounds.

Likewise prosecutors accused market-friendly presidential candidate Geraldo Alckmin of accepting improper donations from scandal plagued construction company Odebrecht during a previous campaign.

Still, the index was supported by opportunistic buying after some heavily weighted firms, such as beverage company Ambev SA , fell significantly in previous sessions. A big winner on the Bovespa was Suzano Papel e Celulose SA , which climbed nearly 4% after Brazil's securities regulator rejected a request by shareholders to delay a shareholders' meeting in which a tie-up with rival Fibria Celulose SA will be discussed.

 

Categories: Economy, Politics, Brazil.

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