With new high, Stock Market breaks the 65 thousand point barrier
Folha de S. Paulo - 10/30/2007
Investors have started the week excited because of the new decision on the North American interests. Another trading session of highs lead the São Paulo Stock Exchange (Bovespa) to reach the level of 65 thousand points for the first time in history. The valuation of 1.20% reached yesterday made the Stock Exchange of São Paulo celebrate its 41st record in 2007. The year's accumulated high is 46.25%. The IPO (initial public offer of stocks) of the Bovespa Holding favored this movement, since the operation arose the interest of many foreign investors. As the BM&F (Futures and Commodities Exchange) should also sell its stocks in a trading session before the end of the year, the dollar decrease's pressure tends to continue during the next weeks. With a 7.57% accumulated high in the month, the Ibovespa has reached a new record of 65,044 points. The Ibovespa is the main index of the São Paulo Stock Exchange and gathers the 63 stocks most traded in the country. The score registered by the index accompanies the variation of the market value of the companies. This way, saying that a record score was reached means that the companies have never been worth so much. Yesterday's trading session had a very expressive activity, R$ 7.46 billion (US$ 4.1 billion), well above the daily average of 2007 (R$ 4.5 billion / US$ 2.1 billion). Among the most traded securities in the Stock Exchange, the strongest highs occurred with Vale do Rio Doce PNA (4.56%) and Petrobras PN (2.43%).