Around the World's Markets: Sao Paulo

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The Independent Online
THE BOVESPA index of leading shares was 46 points, or 0.60 per cent, lower at 7,557 in midday trading as profit-taking ate into this week's 13 per cent gain. The real eased to 1.1905 to the dollar from 1.1898.

Traders said fiscal austerity and the IMF aid package were influencing the market more than Wall Street. "There is new money entering, including from foreign investors," said a trader. "It is hard to tell how sharply investors will take profits, but I expect the market to close lower."