Around the World's Markets: Sao Paulo

BRAZILIAN SHARES closed down 0.5 per cent in jittery trade amid a Senate commission inquiry into alleged insider trading ahead of January's shock currency devaluation.

Sao Paulo's Bovespa index ended the day at 11,246 points, with many investors afraid to take new positions before Telebras receipt options expire on Monday. "The blue-chip stocks are down on nervousness over the inquiry and options," said one analyst.