Share Prices Finish Mixed
May 12, 2011
The Sao Paulo Stock Exchange dropped 106 to 62594 on the Bovespa Index after losing 247 Thursday. Of the 50 stocks making up the Bovespa Index, 22 advanced, 22 declined and 6 closed unchanged. Volume decreased to a moderate 330 million reals Friday from 450 million shares traded Thursday. Stocks hit its low point at midsession Friday following the release of economic data in the U.S. that sent 30-year Treasury yields soaring. The market steadily recovered to end the day flat. In the last half-hour of trading, government-run electric holding company Eletrobras announced its earnings, which perked the market up a bit. Eletrobras posted a 1.57-billion-real first-half profit Friday, an increase of 228% from the year-earlier period. The giant energy holding is currently being prepared for privatization. Traders noted the Eletrobras results were surprisingly good. Preferred shares of Eletrobras jumped 9 to 279 reals per thousand shares, while Eletrobras common shares increased 8 to 269.99 reals per thousand shares. Still, Telecomunicacoes Brasileiras shares accounted for 72% of trading volume Friday. Telebras fell 0.9 to 75.50 reals per thousand shares, while subsidiary Telesp declined 1 to 195 reals per thousand shares. Another subsidiary, Telepar, fell 1.9 to 488 reals per thousand shares. Cemig rose 0.1 to 30.60 reals per thousand shares, while Light gained 6 to 291 reals per thousand shares. Federal oil company Petrobras was unchanged at 121.50 reals per thousand shares, while the government's mining giant, Vale do Rio Doce, slipped 0.05 to 19.70 reals per single share.
VastPress 2011 Vastopolis
