Brazil Olympics Boost For ETFs
October 4th, 2009
NEW YORK – Brazil’s winning bid to host the 2016 Olympic Games could attract an even larger number of foreigners to Brazilian stocks, which have already soared 62 percent since the beginning of the year.
News that Rio de Janeiro defeated Chicago, Madrid and Tokyo in a competition to host the games boosted shares of infrastructure and tourism-related companies on the Sao Paulo Stock Exchange on Friday.
Though Fund managers do not expect the benchmark Bovespa index to rally much further in the short term, they see the Olympic games keeping a positive bid in the market.
The Euro’s Demise Has Been Set in Motion: Are you protected?
"Nationalism will emerge. Healthier countries will not see fit to spend their hard earned money to bail out their less responsible neighbors."
CLICK HERE to get your Free E-Book, “Why It’s Curtains for the Euro”
For the full sory click: HERE
ETF: iShares MSCI Brazil Index (EWZ)
GET A FREE TREND ANALYSIS FOR ANY ETF HERE!
Most Comments