HSBC Securities analyst Paulo Ribeiro raised the year-end 2013 price target for shares in Brazilian bourse operator BM&FBovespa SA to 16.5 reais from 15 reais. Ribeiro said market concerns regarding potential competition seem overdone. He added that the entry of new rivals in the exchange markets is a "2014 or later proposition."
Ribeiro kept his "overweight" recommendation on the stock, as the company offers "a play on Brazil's growth story" and is trading at a 45 percent discount to its emerging market peers on a 2013 estimated price to earnings basis.
Legislation to fund US gov't through April clears procedural hurdle in Senate
WASHINGTON, Dec 9 A bill to fund the U.S. government cleared a procedural hurdle in the U.S. Senate on Friday and appeared poised to pass the chamber, averting a government shutdown.
UPDATE 6-Ghana's opposition leader Akufo-Addo wins presidential election
* Election result means third peaceful change of power since 2000