Google Boosts Its Presence in Latin America as Region’s Sales Increase 80%
1 de março de 2011Brazil approves committee to oversee 2016 Olympics
3 de março de 2011Bovespa stock-index futures fluctuated between gains and losses after industrial output grew unexpectedly, fueling concern the central bank will raise interest rates more than previously expected.
Gerdau SA, Latin America’s largest steelmaker, may be active after saying it will spend 2.5 billion reais ($1.5 billion) to expand steel capacity at its Cosigua plant in Rio de Janeiro state. ALL America Latina Logistica SA, Latin America’s largest railroad company, may move after posting a profit in the fourth quarter. Homebuilders may be active after the Planning and Budget Ministry said spending cuts won’t affect the government’s plan to build 2 million new homes by 2014.
Bovespa futures fell 0.1 percent to 66,810 at 8:11 a.m. New York time, after rising as much as 0.2 percent earlier. The real strengthened 0.1 percent to 1.6617 per dollar.
Brazil’s benchmark equity gauge fell the most in three weeks yesterday as concern intensified that credit expansion in Brazil will falter and rising oil prices will hinder economic growth in the U.S., the nation’s second-biggest trade partner.
Brazil’s monthly industrial production rose 0.2 percent in January, the national statistics agency said today in Rio de Janeiro. The median forecast of 33 economists surveyed by Bloomberg was for a 0.3 percent decline. Traders reacted by pushing up yields on interest-rate futures contracts.
ALL posted consolidated net income of 16.9 million reais in the fourth quarter of 2010. A year earlier, ALL had a net loss of 63.7 million reais, according to a regulatory filing.
Petrobras
Petroleo Brasileiro SA, Brazil’s state-controlled oil company, may move after saying it confirmed high-quality oil at a well in Iara, in the pre-salt area of the Santos Basin, according to a regulatory filing. Separately, Energy Minister Edison Lobao said the nation will likely hold one or two auctions of oil exploration rights this year.
Embraer SA may move after Valor Economico newspaper cited Trade Minister Fernando Pimentel saying he plans to discuss an agreement to allow the aircraft maker to build executive jets in China to sell to Brazil.
Drogasil SA, Brazil’s second-biggest retail pharmacy, may be active. Empreendimentos Pague Menos SA, a Brazilian drugstore chain, plans to bring forward an initial public offering to the third quarter, Valor Economico said, citing Francisco Deusmar de Queiros, the company’s founder.
Lupatech SA, Brazil’s biggest provider of oil equipment and services, may move after President Dilma Rousseff said the nation plans to expand its policy of buying equipment and services in the oil industry from local suppliers.
The Bovespa lost 4.4 percent this year through yesterday as homebuilders and banks fell on concern rising inflation will spur additional measures to restrict credit growth, outweighing gains in oil and raw-material producers.
The index trades for 10.6 times analysts’ earnings estimates, according to weekly data compiled by Bloomberg. That compares to a ratio of 13.6 for the Shanghai Composite Index, 7.3 for Russia’s Micex, and 16.7 for India’s Sensex.
