م. علي شتات
01-02-2012, 08:32 PM
The Bovespa stock index (MXBR) advanced, following its first annual loss since 2008, as economists cut their forecast for Brazil’s inflation for a fifth straight week.
Homebuilder Gafisa SA (GFSA3) led gains by companies that depend on domestic demand as the MSCI Brazil/Consumer Discretionary Index posted the best performance among 10 industry groups. Plane builder Embraer SA (EMBR3) rose for a fourth day after the company and Sierra Nevada Corp. were awarded a $355 million contract to provide 20 A-29 Super Tucano aircraft to the U.S. Air Force.
The Bovespa added 0.8 percent to 57,221.28 at 1:15 p.m. in Sao Paulo. Forty-eight stocks climbed on the gauge today, while 22 fell. The real weakened 0.2 percent to 1.8708 per U.S. dollar. Brazil’s benchmark equity index fell 18 percent in 2011, the biggest drop since 2008, when it plunged 41 percent.
Consumer prices will increase 5.32 percent in Brazil this year, according to the median forecast in a Dec. 30 central bank survey of about 100 economists published today, from a forecast of 5.33 percent the previous week.
“I don’t see major problems in the Brazilian economy, as the global slowdown will probably help to curb inflation,” Alvaro Bandeira, a director at Ativa Corretora brokerage, said in a telephone interview from Rio de Janeiro. “The main source of uncertainty is still the international markets. A better performance for the Bovespa in 2012 will depend on what happens in Europe and in the U.S.”
Growth Outlook
European stocks gained on their first trading day this year as a measure of German manufacturing beat estimates. U.S. markets are closed today for the New Year’s holiday.
Economists covering Brazil also cut their forecast for 2011 economic growth to 2.87 percent, according to the central bank survey, from 2.90 percent the previous week. Latin America’s largest economy will expand 3.3 percent this year, from a previous forecast of 3.40 percent, according to the survey.
Embraer rose 1.2 percent to 11.90 reais. Gafisa, Brazil’s third-biggest homebuilder by revenue, jumped 4.1 percent to 4.29 reais.
The Bovespa entered a bull market in October after gaining 22 percent from a two-year low on Aug. 8 as interest-rate cuts in Brazil and signs of progress in solving Europe’s debt crisis buoyed demand for equities. The measure has since pared its advance to 17 percent.
The index trades at 10 times analysts’ earnings estimates, in line with the ratio for MSCI Inc.’s measure of 21 developing nations’ equities, weekly data compiled by Bloomberg show.
Traders moved 4.85 billion reais ($2.60 billion) in stocks in Sao Paulo on Dec. 30, data compiled by Bloomberg show. That compares with a daily average in 2011 of 6.51 billion reais through Dec. 27, according to data from the exchange.
Homebuilder Gafisa SA (GFSA3) led gains by companies that depend on domestic demand as the MSCI Brazil/Consumer Discretionary Index posted the best performance among 10 industry groups. Plane builder Embraer SA (EMBR3) rose for a fourth day after the company and Sierra Nevada Corp. were awarded a $355 million contract to provide 20 A-29 Super Tucano aircraft to the U.S. Air Force.
The Bovespa added 0.8 percent to 57,221.28 at 1:15 p.m. in Sao Paulo. Forty-eight stocks climbed on the gauge today, while 22 fell. The real weakened 0.2 percent to 1.8708 per U.S. dollar. Brazil’s benchmark equity index fell 18 percent in 2011, the biggest drop since 2008, when it plunged 41 percent.
Consumer prices will increase 5.32 percent in Brazil this year, according to the median forecast in a Dec. 30 central bank survey of about 100 economists published today, from a forecast of 5.33 percent the previous week.
“I don’t see major problems in the Brazilian economy, as the global slowdown will probably help to curb inflation,” Alvaro Bandeira, a director at Ativa Corretora brokerage, said in a telephone interview from Rio de Janeiro. “The main source of uncertainty is still the international markets. A better performance for the Bovespa in 2012 will depend on what happens in Europe and in the U.S.”
Growth Outlook
European stocks gained on their first trading day this year as a measure of German manufacturing beat estimates. U.S. markets are closed today for the New Year’s holiday.
Economists covering Brazil also cut their forecast for 2011 economic growth to 2.87 percent, according to the central bank survey, from 2.90 percent the previous week. Latin America’s largest economy will expand 3.3 percent this year, from a previous forecast of 3.40 percent, according to the survey.
Embraer rose 1.2 percent to 11.90 reais. Gafisa, Brazil’s third-biggest homebuilder by revenue, jumped 4.1 percent to 4.29 reais.
The Bovespa entered a bull market in October after gaining 22 percent from a two-year low on Aug. 8 as interest-rate cuts in Brazil and signs of progress in solving Europe’s debt crisis buoyed demand for equities. The measure has since pared its advance to 17 percent.
The index trades at 10 times analysts’ earnings estimates, in line with the ratio for MSCI Inc.’s measure of 21 developing nations’ equities, weekly data compiled by Bloomberg show.
Traders moved 4.85 billion reais ($2.60 billion) in stocks in Sao Paulo on Dec. 30, data compiled by Bloomberg show. That compares with a daily average in 2011 of 6.51 billion reais through Dec. 27, according to data from the exchange.