Stocks Rise on Bond-Yield Drop
May 16, 2011
The Sao Paulo Stock Exchange gained 375 to 62700 on the Bovespa Index, after losing 269 Monday. The Rio de Janeiro Stock Exchange rose 77 to 23071. Of the 50 stocks making up the Bovespa Index, 25 were higher, 14 were lower, nine were unchanged and two were untraded. Volume was a moderate 346 million reals Tuesday, up from 99 million reals Monday. Shares of the government's telephone holding company, Telebras, which accounted for 70% of volume Tuesday, rose 0.4 point, or 0.5%, to 75.80 reals per thousand shares, while shares of subsidiary Telesp increased 2 points, or 0.8%, to 197 reals per thousand shares. Shares of another subsidiary, Telepar, were unchanged at 486 reals per thousand shares. Cemig stocks rose 0.1 point, or 0.3%, to 31 reals per thousand shares. Shares of Light gained 3.5 points, or 1.2%, to 292.51 reals per thousand shares. Preferred shares of government-run electric holding company Eletrobras moved up 2 points, or 0.7%, to 279 reals per thousand shares, while common shares moved up 3 points, or 1.1%, to 271 reals per thousand shares. Shares of federal oil company Petrobras rose 0.5 point, or 0.4%, to 120 reals per thousand shares. Shares of the government's mining giant, Vale do Rio Doce, increased 0.3 point, or 1.6%, to 19.65 reals per single share.
