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B3, the Brazilian Stock Exchange, is preparing for next Tuesday (16) the inauguration of a “golden bull” in front of its headquarters, which is located on Rua XV de Novembro, in the historic center of the city of São Paulo.
In a statement, the São Paulo stock exchange says that the statue “symbolizes the financial market and the strength of the Brazilian people”.
One of the biggest symbols linked to US stock exchanges, the “Bull of Wall Street”, or ‘Charging Bull’ in English, located in Manhattan, New York, is 3.4 meters tall and 4.9 meters long. B3 did not detail, however, whether the Brazilian version will have the same characteristics.
The bull is a symbol used in the financial market to designate the strength of assets, mainly due to the movement that the animal usually makes with its head from the bottom to the top.
The breeder of the Wall Street bull was Italian artist Arturo Di Modica. The sculptor decided to carry out the work after the 1987 stock collapse, as a sign of confidence in the future of the United States.
Investment in shares has been gaining new followers in Brazil, especially after the Selic, the basic rate of the economy, having reached a historic low last year, making investments in fixed income less attractive than those in variable income.
Today, the Stock Exchange has more than 4 million registered accounts — 26% more than a year ago, according to a B3 survey — and around R$ 490 billion traded.
In a statement, the exchange informed that the statue is a partnership with economist Pablo Spyer and artist and architect Rafael Brancatelli.
Reference: CNN Brasil