SAO PAULO--Brazil stocks fell Thursday, accompanying global
indexes, after real estate developer Brookfield Incorporacoes SA
reported widening losses and as oil producer OGX Petroleo & Gas
slumped ahead of earnings.
The Ibovespa index of most-traded stocks in Sao Paulo fell 0.6%
to 55448 points, after closing at 55805 points Wednesday.
Brookfield reported Wednesday after markets closed that
first-quarter losses widened to 48 million Brazilian reais ($24
million) from BRL16 million in the year earlier period. Brookfield
fell 7.1% to BRL1.95, leading declines on the index.
OGX, controlled by Brazilian billionaire Eike Batista, posted
the second-biggest decline, falling 6.3% to BRL1.65. The oil
producer, which has been facing production problems at its offshore
oil wells, reports first-quarter earnings after the close of
markets Thursday.
Stocks opened lower, despite a decline in jobless claims in the
U.S. However, Brazil's largest trade partner, China, reported an
uptick in inflation to 2.4% in April from 2.1% in March, reducing
the chances of Chinese authorities implementing measures to
stimulate the economy. China imports mainly iron ore, soybeans and
other raw materials from Brazil.
Iron-ore producer Vale SA traded at BRL33.15, up less than 0.1%,
while state-owned oil giant Petroleo Brasileiro SA was up 0.2% to
BRL19.29.
Leading airline Gol Linhas Aereas Inteligentes fell 0.4% to
BRL12.14, despite an announcement at the start of the day that it
had expanded its codesharing agreement with Delta Air Lines.
Write to Paulo Winterstein at paulo.winterstein@dowjones.com
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