NewsHedge Alert: 2:40:06pm Ticker: EWZ
Alert Price: $22.77 Change: + 1.45% by market close, 4.5% by next day’s market open
UNUSUAL TRADING REPORT
Catalyst: (news) In the third quarter of 2015, the Brazilian economy contracted by 4.5% on a year-over-year basis against a fall of 3.0% in 2Q15 and performed worse than forecasts of a 4.1% fall. On a quarter-over-quarter basis, Brazil’s GDP fell by 1.7%, performing below expectations of a 1.2% contraction but better than 2Q15’s decline of 2.1%.
The manufacturing PMI (purchasing managers’ index) continued to decline, recording a level of 43.8 in November. This was below October’s figures of 44.1 and forecasts of 44.0. The trade surplus was also below expectations at $1.2 billion and below the previous month’s figure of $2 billion.