Brazil’s performance at the World Cup may not have been up to standard, but the country’s strong economy remains a hot favourite with investors, according to F&C Investments.
The investment bank pointed out that Brazil’s benchmark Bovespa index rose 77% in 2009.
However, despite the strong performance, the index has yet to recover to pre-2008 levels.
F&C said it expects “great things” from Brazil’s economy in the near future.
“Although their footballing performance has let them down, our investors are still keen on the emerging markets story and are not alone in tipping the Brazilian stockmarket for great things over the next few years,” said Mike Woodward, F&C Investments spokesperson.
“However, it is important to remember that emerging markets – like any stockmarket – can be volatile, and a market such as Brazil is particularly vulnerable to any setback in the commodity markets.”
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