The Bovespa index is 5% up on a year ago, though it too has been falling pretty sharply in recent weeks, losing 20% of its value since the beginning of May.

巴西Bovespa指数尽管最近几周遭遇大跌，五月以来股市蒸发达20%，然而在去年一年里却上涨了5%.

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Its Bovespa stock index, in dollar terms, is up more than fivefold since January 2004.

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Foreigners now account for about 35% of trading on Bovespa, up from 25% two years ago.

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This has helped Bovespa lure back some of the trades it lost as Brazilian companies listed abroad.

ECONOMIST: Lula, champion of equality, has been good for equities