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STXNEWS LATAM-Brazil stocks drop on profit-taking before U.S. Fed
September 13, 2012 / 1:21 PM / 5 years ago

STXNEWS LATAM-Brazil stocks drop on profit-taking before U.S. Fed

Brazilian stocks fell early on Thursday as caution ahead of the U.S. Federal Reserve’s policy statement later in the day led investors to book profits following a five-day rally in which the index rose 6.56 percent.

An index of electricity companies rose 0.42 percent after plunging 8.2 percent on Wednesday over concerns that recent government measures to reduce electricity rates could overstretch a sector facing stubborn costs and rising regulatory pressure.

The benchmark Bovespa stock index fell 0.3 percent to 59,743.65 shortly after opening.

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