Stocks Track Wall Street
April 03, 2011
The Sao Paulo Stock Exchange's Bovespa Index fell 1125, or 1.8%, to 62991, after soaring 2229, or 3.6%, Friday. The Rio de Janeiro Stock Exchange fell 334, or 1.4%, to 22932. Traders said an increase in speculation on shares in state-run telecommunications giant Telebras fueled the earlier increase. In May, Telebras was responsible for more than half the daily volume. Japan's Nomura Securities, along with the U.S.'s Citibank, Lehman Brothers and Merrill Lynch, were among the international financial houses that recommended Telebras' shares in recent weeks.
