Sao Paulo stock exchange index hits all-time high

Brazil’s Bovespa Index reached its highest point ever during trading this morning as it broke the 60,000 mark. Already this week the Bovespa has broke its record three times as the index has grown by over 35% this year.

Today’s historic gain represents recent growth in Brazilian stocks and its currency as investors have turned towards emerging markets, according to Reuters.

Yesterday Brazilian President Luiz Inacio Lula da Silva praised his country’s rapid economic growth though he noted that inflation needed to be curbed:

“We have to control inflation by all means,” Lula said. “We managed to combine the inflation control with economic growth, and created new jobs.”

Image- Bloomberg (Floor of the Sao Paulo Sock Exchange)

Sources- Bloomberg, Reuters, Reuters UK