Bloomberg News

Bovespa-Index Futures Decline in Sao Paulo as Commodities Slip

April 01, 2013

Bovespa-index futures dropped, a sign the index may fall for the first time in four sessions, as commodities slipped.

Steelmaker Cia. Siderurgica Nacional SA and may be active after fourth-quarter profit beat estimates. Oil producer Petroleo Brasileiro SA may move after Itau BBA said February output data was worse than expected. Retailer Hypermarcas SA may move after newspaper O Estado de S. Paulo reported the company suspended talks to buy Ache.

Bovespa-index futures contracts expiring in April fell 0.4 percent to 56,125 at 9:30 a.m. in Sao Paulo. Brazil’s real was little changed at 2.0209 per dollar. The Standard & Poor’s GSCI index of 24 raw materials declined 0.5 percent.

The Bovespa has retreated 11 percent from this year’s high on Jan. 3 amid concern accelerating inflation may curb Brazil’s economic recovery and the government’s interventionist policies will hurt profits in industries including utilities and energy. The MSCI BRIC Index of shares in Brazil, Russia, India and China has lost 6.4 percent over the same period.

To contact the reporter on this story: Julia Leite in New York at jleite3@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


The Good Business Issue
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus