Around the World's Markets: Sao Paulo

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The Independent Online
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.