Stocks End Flat in Slow Trade
May 17, 2011
The Sao Paulo Stock Exchange gained 68 to 62768 on the Bovespa Index, after rising 375 Tuesday. The Rio de Janeiro Stock Exchange fell 39 to 23032. Of the 50 stocks making up the Bovespa Index, 21 were higher, 17 were lower, nine were unchanged and two were not traded. Volume was a weak 169 million reals, down from 346 million reals Tuesday. Stocks of the government's telephone holding company, Telebras, accounted for 47% of traded volume, down from their usual level of over 60%. The shares slipped 0.2 point, or 0.3%, to 75.60 reals per thousand shares. Subsidiary Telesp, however, increased 3 points, or 1.5%, to 200 reals per thousand shares. Another subsidiary, Telepar, moved up 1 point, or 0.2%, to 487 reals per thousand shares. Cemig jumped 0.7 point, or 2.3%, to 31.70 reals per thousand shares. Light gained 2.5 points, or 0.8%, to 294.98 reals per thousand shares. Preferred shares of government-run electric holding company Eletrobras declined 1 point, or 0.4%, to 280 reals per thousand shares, while common shares fell 3 points, or 1.1%, to 268 reals per thousand shares. Federal oil company Petrobras gained 1 point, or 0.8%, to 121 reals per thousand shares. The government's mining giant, Vale do Rio Doce, increased 0.2 point, or 1%, to 19.85 reals per single share.
