Around the World's Markets: Sao Paulo

Thursday 11 March 1999 00:02 GMT

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BRAZILIAN SHARE prices closed sharply higher on Wednesday as a firm real and improved prospects for the economy lifted investors' spirits. The stellar sector of the day was electricity, where high dollar-denominated debt costs are shrinking as the real gains ground against the US currency. The Bovespa index advanced 3.1 per cent to close at 9,778.

"I think that now, as we see the dollar steady, there will be space for improvement in all markets," said one trader.

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