Brazil stocks up, real down in volatile trading

SAO PAULO, Brazil (AP) -- Brazil's benchmark stock index was up nearly 2 percent in afternoon trading, reversing three straight days of losses for companies in Latin America's largest nation. But Brazil's currency dipped 2.9 percent against the U.S. dollar as investors fled emerging markets.

After seesawing between positive and negative territory, the Ibovespa index rose 1.8 percent to 46,721 on Thursday afternoon.

The real slipped below the psychologically important 1.9 reals-to-the-dollar level in intraday trading for the first time since June 2007.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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