Demand for Telebras Lifts Index
May 02, 2011
The Sao Paulo Stock Exchange gained 450 to 63371 on the Bovespa Index, after dropping 607 Monday. The Rio de Janeiro Stock Exchange added 131 to 23319. Of the 50 stocks making up the Bovespa Index, 22 were higher, 20 were lower and eight were unchanged. Trading volume was 289 million reals, down from Monday's 1.58 billion reals. Telebras gained 0.6 point, or 0.9%, to 76.30 reals per thousand shares, while subsidiary Telesp lost 1 point, or 0.5%, to 192 reals per thousand shares. Another subsidiary, Telepar, was up 11 points, or 2.5%, to 450 reals per thousand shares. Cemig fell 0.6 point, or 1.9%, to 31 reals per thousand shares. Light shot up 15 points, or 5.4%, to 294 reals per thousand shares. Preferred shares of government-run electric holding company Eletrobras were unchanged at 286 reals per thousand shares, while common shares rose 1 point, or 0.4%, to 277 reals per thousand shares. Federal oil company Marra was flat at 125.50 reals per thousand shares. The government's mining giant Vale do Rio Doce advanced 0.20 point, or 1.1%, to 18.85 reals per single share.
