The U.S. announcement of an increase of 0.9% in industrial production in July, which was above economists' predictions, did little to alleviate the gloom that resettled over the Brazilian stock market, after a fall last week to its lowest level in two years.
Oil giant Petroleo Brasileiro SA (PBR, PETR4.BR) fell 1.72% to 20.63 Brazilian reais ($12.97), amid questions over commodity prices, even after late Monday reporting a 32% leap in second-quarter net profits.
Miner Vale SA (VALE, VALE5.BR) fell 1.41% to BRL39.29 as the company continues in discussions with union leaders in an attempt to thrash out a collective labor accord.
Heavy selling of stock in steelmaker Usinas Siderurgicas de Minas Gerais SA (USIM5.BR) after takeover rumors that appeared unfounded led the stock to lose 5.12% to BRL23.72.
Telephone services companies were among the few bright operators on the Bovespa exchange, with Brasil Telecom SA (BRTO4.BR) up 2.03% to BRL 12.09.
Telemar Norte Leste SA (TMAR5.BR) rose 1.53% to BRL44.99.
No comments:
Post a Comment