By Elzio Barreto
SAO PAULO (Reuters) - Brazil to duplicate a taxon of foreign investment in domestic bonds movement is unlikely that the hampertrading products stocks and derivatives, mountain biking & Bovespa ChiefExecutive Edemir Pinto said Tuesday.
The decision, which was announced the final Monday and the afterthe presidential election has could not be a first-roundwinner, raised the tax called IOF to 4 percent of 2percent previamente.El movement "should not affect" in commercial localstock, the most dynamic markets of Brazil, Pinto told reporters.
"The Government was consistent investment income only rate forfixed hiking and does not create an added responsibility thestock market", said Pinto.
Analysts say that the move does not discourage local frombuying foreign investors, which offer the most high inflation-adjustedreturns among 20 largest net markets mundo.Inflowsinto savings bonds local fixed income, reached almost collapsing dollars in the year through August, enlivened a surge in Brazil ' scurrency Government says that it is hampering exports.
The figure compared with 2.6 million dollars a yearearlier.Entradas local stock market flows exceed outflowsby $ 14.7 million in the first eight months of the year, according to data of the central bank.
When asked if they could impact BM & F segmentthat market includes derivative and future interest rates, saidhe Pinto sees "no chance of an impact".
Bovespa, main index of Brazil, rose1.1 to 71,870.37, the highest level mountain biking & Bovespa 15.Acciones intraday sinceApril percent stock index jumped 3.3% 14. 56reais.
Trade volumes for futures, interest rate in tandem with recent sessions, contractswere indicating little or arising from the application of the tax increase noeffect said traders.
RBS analysts said that the move suggested that the Government was
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