Around the World's Markets: Sao Paulo

THE BENCHMARK Bovespa index fell for the second successive day, with analysts growing increasingly pessimistic about the outlook for the country's financial health.

Reports that the central bank had been forced to sell dollars for reals in an attempt to prop up thecurrency also hit sentiment. In afternoon trade yesterday, the Bovespa was down 1.56 per cent - or 114.34 points - at 7206.98. After slipping to a new record low of 1.77 against the dollar in early trade, the real recovered to 1.69 after reports of central bank intervention.