RIO DE JANEIRO, BRAZIL - Holiday Monday. That was some analysts' definition of Monday's trading session. The R$25 (US$4.8) billion volume in the Brazilian stock market is considered low and explained by the political and economic uncertainties that hang over Brazil.
Banks were the positive highlight, reacting well to the Focus Report's revised projected SELIC rate, up from 7% to 7.25% a year until the end of 2021. BTG, Itaú and Bradesco stocks closed up 3.78%, 1.10% and 0.34%, respectively, as banks tend to benefit from higher interest rates.
"While international markets . . .
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