Brazil's economy was a significant point of contention during the nation's presidential election in October, as many investors were displeased with incumbent Dilma Rousseff's intervention in the economy. The appointment of a new finance minister could mark a move away from those policies.
One of three reported finalists for the position is Joaquim Levy, the CEO of Bradesco Asset Management, a part of Banco Bradesco (BBD) , according to Reuters. Many investors credit Levy, who trained at the University of Chicago, with helping Brazil earn its investment credit grade during a previous tenure as treasury secretary.
Must Read: Warren Buffett's 25 Favorite Stocks
The other two reported contenders are central bank president Alexandre Tombini and Nelson Barbosa, a professor at the São Paulo School of Economics.
Separately, TheStreet Ratings team rates VALE SA as a "sell" with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate VALE SA (VALE) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."