Around the World's Markets: Sao Paulo

BRAZILIAN STOCKS ended 2.5 per cent lower yesterday, amid investor disappointment that recent talks between the International Monetary Fund and the government ended without a firm date being set for the release of a second tranche of international aid. The blue-chip Bovespa index finished down at 8,435 points.

"There was some frustration over Thursday's IMF statement," said one analyst. Concerns were looming that interest rates may remain high for some time.