By Doug Gray, Contributing Reporter

RIO DE JANEIRO - The BOVESPA index has been oscillating heavily, but throughout March it gained 7.18%, with R$1.44 billion – 34% of the total for the month – invested from overseas companies (Wall Street Journal). This reflecting the continuing confidence in the potential of Brazil’s market.

As a further sign it’s not all bad news for industry, shares in Petrobras, the state-run oil giant, continue to strengthen having bottomed out at 14 points at the end of 2008, and now stand at 34.3 points (at close on 7/4/09 . . .

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