Around the World's Markets: Sao Paulo

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The Independent Online
THE BOVESPA index ended up 6.3 per cent yesterday at 7,645 points as investors took advantage of a deeper currency devaluation to go bargain- hunting for stocks that were suddenly 7 per cent cheaper in dollar terms.

A growing consensus that the government will continue to speed fiscal reforms through Congress also boosted shares. A panel in the lower house of Congress approved a bill to increase the CPMF financial transactions tax, a key part of the government's austerity plan.