Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Hering Rises on Inflation Outlook as Real Gains: Sao Paulo Mover

Cia. Hering, Brazil’s second-biggest clothing chain, led retailers higher as a gain in the real after the announcement of an intervention program spurred speculation that inflation won’t run out of control.

The shares climbed 5.3 percent to 31.90 reais at the close of trading in Sao Paulo, the steepest advance since April 23. The rally was the biggest on the MSCI Brazil/Consumer Discretionary Index, which rose 6.3 percent, the most among 10 industry groups.

“It’s good news for retailers if the currency strengthens a bit,” Sandro Fernandes, a trader at brokerage firm Geraldo Correa, said by phone from Belo Horizonte, Brazil. “Investors were concerned because we already saw prices of some products increasing as the real weakened this year. The government intervention in the currency market fuels hope that policy makers won’t have to raise interest rates too much.”

The real surged 3.7 percent to 2.3490 per dollar at 5:39 p.m. local time after the central bank stepped up efforts to stem the worst three-month decline among 31 major currencies tracked by Bloomberg, announcing a $60 billion intervention program involving foreign-exchange swaps and loans.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.