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Brazil's real ends flat as Wall St recoups losses

SAO PAULO: The Brazilian real finished trading flat on Monday, after Wall Street stocks, which are a key gauge for many Latin American financial markets, recouped earlier losses, traders said.

The real had weakened 0.7 percent in morning trade, watching the Dow Jones industrial average sag early in the session. The real finished the day at 1.745 per dollar.

"After investors shook off the nervousness that dominated the market in the morning, the real managed to recover its losses," one local trader said.

The Dow Jones had managed to rise 55 points by the time the Brazilian foreign exchange market closed, after dipping as much as 193 points.

A weak stock opening in New York, which followed in the footsteps of slumping Asian and European bourses, had also dealt a blow to Brazilian stocks on Monday. The Sao Paulo stock exchange's leading share index Bovespa was still down 3.55 percent when the currency stopped trading. -Reuters