Lack of News Hurts Shares
May 18, 2011
The Sao Paulo Stock Exchange's Bovespa Index lost 228 to 62540, after adding 68 Wednesday. The Rio de Janeiro Stock Exchange fell 94 to 22938 Thursday. Decliners led advancers on the Bovespa Index, 23 to 15, while 11 stocks remained unchanged. Volume rose to a thin 239 million reals Thursday, up from a weak 169 million reals Wednesday. Share prices began the day lower, rallied to 0.3% higher than the opening level and dipped as low as 0.7% below the starting point before settling at the session. Traders said the prospects of higher yields on 30-year U.S. Treasury bills almost always blows a cold shudder on Brazilian stocks. The government's telephone holding company, Telebras, slipped 0.2 point to 75.20 reals per thousand shares, while subsidiary Telesp increased 1 to 201 reals per thousand shares. Another subsidiary, Telepar, declined 2 to 485 reals per thousand shares. Cemig was unchanged at 31.70 reals per thousand shares. Light gained 3 to 297 reals per thousand shares. Preferred shares of government-run electric holding company Eletrobras declined 3 to 277 reals per thousand shares, while common shares fell 1 to 267 reals per thousand shares. Federal oil company Petrobras lost 1 to 120 reals per thousand shares. The government's mining giant Vale do Rio Doce climbed 0.4 to 20.25 reals per single share.
VastPress 2011 Vastopolis
