Around the World's Markets: Sao Paulo

PROFIT-TAKING sent Brazilian stocks lower in morning trade. Just before lunch, the benchmark Bovespa index was 138 points, or 1.22 per cent, lower at 11,167. The commercial real was unchanged from late Wednesday at 1.670-1.680 per dollar.

According to traders, the Central Bank's decision on Wednesday to cut interest rates by 5.5 per cent to 34 per cent was largely expected and therefore had little impact on stocks.