Bovespa Falls for the First Week in Three on Inflation Concerns
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The Bovespa stock index fell for the first week in three as concern mounted that accelerating inflation will lead to higher borrowing costs that may derail economic growth.
Homebuilder Cyrela Brazil Realty SA Empreendimentos e Participacoes recorded its biggest weekly drop in a month, while card-payment processor Redecard SA led declines for the index today. Petroleo Brasileiro SA, the state-controlled oil company, posted its biggest weekly advance in two months as oil surged.