The Brazilian stock exchange, Bovespa, is cutting its trading hours on days when that country’s soccer team is playing in the World Cup.
The Bovespa said today that it will close early on June 13 and June 22, shutting down trading at 3 pm instead of 5 pm, and it won’t offer an after-market session on those days either. Brazil plays Croatia on June 13 and Japan on June 22. Its other first round game is on a weekend.
In mid-May, the Central Bank of Brazil established special working hours for the entire financial system on the days the Brazilian team has matches scheduled during the 2006 World Cup. It ordered that financial institutions must be open for at least four hours on those days, but otherwise they are free to set their opening times.
Bovespa to close early during World Cup
Brazilian exchange to close early when soccer team plays
- By: James Langton
- May 30, 2006 May 30, 2006
- 08:30