Around the World's Markets: Sao Paulo

Thursday 29 October 1998 00:02 GMT

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

BRAZILIAN shares jumped 3.69 per cent in afternoon trade yesterday on optimism over the fiscal plan outlined by the government, widely expected to pave the way for an international loan. Sao Paulo's key Bovespa index surged to 7,122 points, also boosted by government intervention in the market.

President Fernando Cardoso was reported to have put together a $23.5bn package of tax increases and spending cuts in an attempt to trim its $60bn deficit, a condition for receiving up to $30bn of IMF aid.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Stay up to date with notifications from The Independent

Thank you for registering

Around the World's Markets: Sao Paulo

Join our commenting forum

Thank you for registering