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Around the World's Markets: Sao Paulo

Tuesday 13 October 1998 19:02 EDT
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BRAZILIAN shares closed up 1.39 per cent yesterday as investors priced stocks to match the strong gains made in overseas markets on Monday, when the Brazil market was closed for a holiday to honour its patron saint.

"Yesterday bourses everywhere gained, so the market here was left owing investors a rise," said Julio Ziegelmann, a fund manager at BankBoston Corp.

Sao Paulo's key Bovespa index closed at 6,618 points, closely matching Wall Street's Monday gain of 1.2 per cent.

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