Financial Markets

The BM&F Bovespa (IPA: [bo.'ves.pa]; Portuguese: Bolsa de Valores de São Paulo) is a São Paulo-based stock exchange. It is the second largest stock exchange inThe Americas and the third largest in the world.^.The BM&F Bovespa is linked to all Brazilian stock exchanges, including Rio de Janeiro’s Boverj (BVRJ), where only government bonds are traded. The benchmark indicator of Bovespa is the 50-stock Índice Bovespa. There were 450 companies traded at Bovespa as of April 30,2008^[3].