Brazilian property stocks 'to see stronger performance'
Date added: 4th July, 2011 at 10:35
(view all articles from July, 2011)
Categories: Property News
Shares in Brazilian property developers are expected to perform well in the near future.
In a client note, investment bank Credit Suisse advised that real estate and consumer stocks are ready to make gains, according to Bloomberg.
"The outlook for Brazil has improved," analyst at the firm Andrew Campbell stated, predicting that increases in interest rates will be halted this quarter and that this will boost the Brazilian property market.
Homebuilder PDG Realty was one of the stocks the institution added to its July "model portfolio" of investment opportunities in the country.
"The risk of an inflation spike, or of inflation staying above the high end of the Central Bank’s target range for a prolonged period, has decreased in our view," Mr Campbell explained.
At 09:47 BST today (July 4th), Brazil's stock index the Bovespa was up 1.5 per cent, adding 990.70 points to reach 63,394.30. PDG Realty was up 0.2 per cent.
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