Brazilian real retail extends fall after disappointing data
By Paula Arend Laier
SAO PAULO (Reuters) - the Brazilian real fell more than 1 per cent on Wednesday after the disclosure of a disappointing monthly retail sales data, dragging the troubled currency beyond a minimum of a decade in the previous session.
* The real played on Wednesday a minimum of 2,8750 per dollar then that data showed that retail sales recorded their biggest historical decline in December, crowning its weakest year since 2003.
* The actual, as well as other emerging currencies, has been weakened this year by expectations that United States raise their interest rates mid-year after keeping them close to zero since the financial crisis of the last decade.
* Meanwhile, the Bovespa stock index gave back initial gains pressured mainly by the fall of the titles of the private banks. The reference of the Sao Paulo Stock Exchange lost 1 per cent, to 48.025 points, to the 1600 GMT.
The titles of the private banks, Bradesco and Itaú Unibanco fall pressed strong index given its importance. Speculation over potential fiscal measures, including a tax on profits and dividends from companies, pushed this fall.
* At the opposite end, the actions of the State Banco do Brazil reflected the positive impact of gains that were above the expectations of the market in the fourth quarter.
* Furthermore, the roles of the State oil company Petrobras climbed up 1.46 percent after closing with a decline the previous session, although analysts are warning the extreme volatility of the shares.
* In a note to clients, BTG Pactual considered that the message given on Tuesday by the new President of the firm "was consistent with what we'd like to hear from the company".
(Additional report of Asher Levine and Bruno Federowski; Published in Spanish by Rodrigo Charme)
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