Brazil's investors were ebullient today. Shares of Brazilian stocks of all sorts shot out of the gate Tuesday morning along with the broader market, with financial firms Banco Bradesco (NYSE: BBD) and Itau Unibanco (NYSE: ITUB), meat processor BRF (NYSE: BRFS), and oil major Petroleo Brasileiro (NYSE: PBR) (NYSE: PBR.A) all notching gains of roughly 10% or more in early trading.
As of 3:30 p.m. EDT Tuesday, however, Banco Bradesco's gains had been rolled back to 7.6% and Itau Unibanco's win was cut in half to 5.3%. BRF was still up a healthy 7.9%, and Petroleo Brasileiro (Petrobras for short) was holding on to a 9.1% gain.
Image source: Getty Images.