A slowing economy, poor corporate earnings and macroeconomic fears have put Brazil under intense scrutiny from investors, according to BlackRock's Will Landers.
The manager of the £224m Latin American investment trust, who oversees about $7bn in Latin American equities, said the proportion of analysts cutting forecasts for Brazilian corporates last month stood at its worst level since April 2009, presaging a miserable Q2 earnings season. Brazil’s stock index, Bovespa, has fallen 5% this year to add to the 18% decline seen in 2011. “Brazil has not delivered on growth for the second year in a row, and there are now an unprecedented number of companies missing results,” Landers said. “Everything is being questioned now by global investors, from ...
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