Around the World's Markets: BRAZIL

Wednesday 09 September 1998 23:02 BST

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BRAZILIAN shares fell by 2.55 per cent on worries that Tuesday's emergency fiscal measures would be insufficient to end the country's economic difficulties. The measures are aimed at cutting 4bn reais from the budget, although dealers said the savings would barely cover the extra cost of servicing the country's debt.

IThe Bovespa index fell 150 points to 5,668 in morning trade. Dollar outflow slowed after last week's hike in interest rates by 50 per cent.

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Around the World's Markets: BRAZIL

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