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The Independent Online
BRAZILIAN shares shrugged off news that the economy had slipped into recession, trading up 107.25 points, or 1.21 per cent, by mid afternoon at 8967.93.

Gross domestic product fell by a seasonally adjusted 1.64 per cent in the fourth quarter, the second successive quarterly drop.

The national statistics institute said: "At the end of the year, the objective of the government centred on balancing the public accounts, putting off growth ... for a more stable climate."

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