Around the World's Markets: Sao Paulo

PROFIT TAKING sent Brazilian shares lower in Sao Paulo yesterday.

In afternoon trade, the benchmark Bovespa index was down 233.27 points - or 2.62 per cent - at 8,657.76.

According to dealers, profit taking was triggered by a strengthening of the Brazilian real against the dollar.

The real climbed to 1.81 to the dollar, up from Monday's 1.91, after a Soros aide replaced Francisco Lopes as president of the Cental Bank.