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Jun 5, 2007, 18:55 GMT

Foreign investment in Sao Paulo Stock Exchange increases tenfold

Sao Paulo - The balance of foreign investment on the Sao Paulo Stock Exchange increased tenfold to 8.9 billion dollars in the first five months of 2007 compared to the same period of 2006. Officials at the Brazilian market said Tuesday that the increase was mainly due to the participation of foreigners in the public offerings of stock this year, for a total value of some 10.4 billion dollars. The report said foreigners purchased over 73 per cent of the shares issued on the Sao Paulo market between January and May. The foreign participation helped push daily financial volume traded in market from an average of 1.4 billion dollars in May 2006 to some 2 billion dollars daily last month. © 2007 dpa - Deutsche Presse-Agentur

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