Brazil Stocks Close Slightly Higher Amid Global Lull, Rate Cut Hopes


27/05/2012 12:34 AST  The Wall Street Journal

Brazilian share prices closed slightly higher Friday in a relatively calm trading day after steep losses earlier in the week and an 11.9% decline so far this month.

The benchmark Ibovespa stock index closed at 54,463 points, up 0.74% from Thursday's close of 54,063 points. Gains were inhibited by falls in shares of both Petroleo Brasileiro (PBR, PETR4.BR), or Petrobras, and Vale (VALE, VALE5.BR), which account for the Bovespa exchange's largest trading volumes.

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