Friday May 16, 2008 MYT 6:57:38 AM
Brazilian stocks close above 71,000 points for first time in history
SAO PAULO, Brazil (AP) - Brazil's main stock index has closed above 71,000 points for the first time ever on speculation that Fitch Ratings may upgrade Brazil to investment grade.
The Sao Paulo stock exchange's Ibovespa index rose 2.1 percent to close at 71,492 points on Thursday, against Wednesday's close of 70,027 points.
Standard & Poor's already has raised Brazil's rating to investment grade. That move prompted a wave of foreign investment in Brazilian securities.
Brazil has emerged as a net foreign creditor and the Central bank has declared the nation's debt crisis over.-AP
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