Brazil Markets Extend Rally as Traders Shrug Off Protests
- Stocks and real strengthened after whipsawing earlier
- President Bolsonaro’s chief of staff to discuss transition
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Brazil’s stocks and the real extended gains after fluctuating earlier on Tuesday as traders weighed rising social unrest against signs of a relatively smooth government transition.
The Brazilian real rose as much as 1% to 5.1272 per US dollar, the highest in over a month, while the benchmark Ibovespa equity index was up 0.4% at 11:52 a.m. Sao Paulo time, compared to a 0.5% drop for the US S&P 500 Index.