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Localiza Sees Biggest Stock Rally Since May After Olympic Announcement

Brazil-based Localiza Rent a Car saw its biggest two-day gain of 4.9 percent in five months, after it was announced that the country will host the 2016 Olympic Games.

by Staff
October 7, 2009
1 min to read


Since the announcement that Brazil will host the 2016 Olympic Games, Brazil-based Localiza Rent a Car SA saw its biggest two-day gain in five months, according to Bloomberg.com.

Per the news source, the company rose 4.9 percent to 19.45 reias on Oct. 2, extending its 6 percent gain. This has been the biggest two-day gain for the rental agency since May 5, when it saw an 11 percent gain.

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It is believed that the Olympic Games can bring as much as 90 billion reais to the Brazilian economy, due to an influx of tourists.

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