NEW YORK (TheStreet) -- Banco Bradesco (BBD) stock is higher by 6.78% to $7.56 in mid-afternoon trading on Monday, as investors again focus on a possible impeachment of Brazil President Dilma Rousseff.
Banco Bradesco is an Osasco, Brazil-based bank.
The real rose by 1% to 3.6427 per dollar in Sao Paulo this morning on reports that the largest party in Congress could leave the governing coalition as soon as tomorrow, Bloomberg reports.
If the Brazilian Democratic Movement Party (PMDB) splits from the government, other parties might do the same, which would further undermine support for the current government, Bloomberg adds.
Rousseff has been contending with the country's worst recession in decades.