- Most U.S.-traded Brazilian resources stocks have turned around from recent losses, as Brazil's central bank chief said the bank would offer up to $20B in currency swaps and ensure liquidity in the currency and interest rate markets.
- In the green: SID +2.8%, VALE +0.5%, BAK +3.1%, GGB +2.9%, CIG +4.8%.
- Also, J.P. Morgan weighed in with positive comments on the state of affairs in the country and expects accommodative monetary policy until H2 2019.
- Petrobras (PBR +2.4%) is higher despite a downgrade to Neutral from Buy from UBS after the company recently reduced prices, which the firm says significantly hurt chances of successful selling its refining assets and exposed it to possible interference depending on the government's policy approach and macro conditions.
- Even Eletrobras (EBR +1.7%) has pushed into the green despite ongoing setbacks to a privatization program that now seems almost certain to be left to the next government.
- ETFs: EWZ, BRZU, BRF, EWZS, BZQ-OLD, BRAQ, UBR, BRAZ, DBBR, FBZ
- Now read: Brazilian Markets Plummet As Elections Approach
Original article