Around the World's Markets: Sao Paulo

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The Independent Online
BRAZILIAN shares slumped in moderate trading yesterday on expectations that an anxiously awaited fiscal plan designed to help Brazil improve its economy could also cut into profits on stock trading. "The market will be nervous until the package is revealed," a trader said, pointing to the expected rise in the financial transactions tax to 0.35 per cent from 0.20 per cent.

Sao Paulo's key Bovespa index ended down 4.1 per cent at 6,972 points, dragged down by a sharp drop in Petrobras.

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