Brazil stocks at 11-week low

Source: Dukascopy Bank SA
Brazilian stock market closed in red for the fourth session in a row on Monday amid concerns over domestic economy. The survey conducted by the central bank of Brazil showed that the GDP is expected to rise 3.08% and 3.65% in 2013 and 2014, compared to estimates of 3.09% and 3.8% a week earlier. The Bovespa Index lost 0.50% to close at 57,613.90. All but one industry dropped. The only gainers were industrial companies, with All America Latina Logistica climbing 1.97%. Cia Brasileira de Distribuicao Grupo gained 0.79% after Banco Espirito Santo de Investimento SA rated the company's shares as ‘buy'. LLX Logistica added 0.91% as it agreed with ASCO Group to provide services at Acu complex in Rio de Janeiro. At the same time, health care firms created the heaviest pressure on Brazilian stock index. Diagnosticos da America, the only health care company included in Bovespa, sagged 3.02%. Usinas Siderurgicas de Minas Gerais also closed in the negative area, losing 3.35%, amid slowing metals demand in China.
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