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Brazil's Ibovespa Up Slightly on Retailers, Consumer Stocks

By Paul Kiernan SAO PAULO--Brazilian stocks mostly loitered near their previous closing prices early in Tuesday's session, remaining slightly above eight-month lows as investors found little encouragement in the latest news. Around 11:30 a.m. EDT, Brazil's benchmark Ibovespa index of most-traded shares was up 0.2% at 53546 points. Retailer and consumer shares were among the top gainers, while industrial heavyweights lagged. Meatpacker Marfrig Alimentos SA (MRFG3.BR) was recently up 2.8% at 8.71 Brazilian reais ($4.30), retail chain Hypermarcas SA (HYPE3.BR) shares gained 2.3% at BRR10.95, brewer Ambev (AMBV4.BR) shares were ahead 0.6% at 72.85 and private-sector banking leader Itau Unibanco Holding SA(ITUB4.B4) shares traded 0.3% higher at BRR28.23. State-owned oil company Petroleo Brasileiro SA (PBR, PETR4.BR) shares were down 0.8% at BRR18.96, mining giant Vale (VALE, VALE5.BR) was off 0.2% at BRR35.95 and steelmaker Usiminas (USIM5.BR) shares gave back 2% at BRR8.00. Data released Tuesday in Brazil fell in line with recent signs that the economy is slowing. The National Confederation of Industries said Brazil's utilization of industrial capacity fell for the third-straight month in April, this time to 81.0%, as manufacturers struggled against problems ranging from higher consumer debt to a flood of cheap imports. HSBC Purchasing Managers' Index for the Brazilian private-services sector stood at 49.6 in May, indicating a contraction as input costs rose and client demand was weak. News from battered developed markets was a bit more upbeat, however, as the U.S. services sector unexpectedly picked up in May. But ING's local SulAmerica Investimentos said in a weekly outlook that it sees little opportunity for the Ibovespa to gain in the short term. "The pessimistic slope should linger in markets, fed by the development of the crisis in Spain and by signs of the U.S. and Chinese economies' progressive weakening," SulAmerica Investimentos said. -Write to Paul Kiernan at paul.kiernan@dowjones.com

Stock News for Petroleo Brasileiro (PBR)
DateTimeHeadline
06/29/201519:45:34Petrobras Rules Out Issuing New Shares
06/29/201517:51:48ADRs End Lower; National Bank of Greece Drops Sharply
06/29/201511:00:08Brazil's President Seeks Investment During U.S. Visit
06/29/201510:49:47Brazil's President Seeks Investment During U.S. Visit
06/29/201509:50:07Brazil's Petrobras Slashes 5-Year Investment Budget
06/29/201504:21:16Sevan Marine Investigates as Ex-Employee Named in Corruption...
06/25/201515:59:05Pemex in Talks With Union Over Pension, Labor Reforms
06/21/201521:00:42Brazil 'Carwash' Shrugs Off Scandal
06/21/201520:40:46Brazil President's Approval Rating Hits Record Low
06/21/201520:40:46Moody's Warns on Two Brazilian Companies
06/19/201516:08:51Brazil Police: Odebrecht, Andrade Gutierrez Chief Executives...
06/19/201512:15:56Brazil Police: Odebrecht, Andrade Gutierrez Chief Executives...
06/19/201510:10:03Brazil Police: Odebrecht, Andrade Gutierrez Chief Executives...
06/16/201517:18:35Brazilian Shares Follow World Markets Higher; Real Strengthens...
06/09/201507:50:18Brazil's Embraer Raises $1 Billion Through Overseas Bond Issue
06/02/201518:02:13ADRs End Mostly Higher; Ctrip Declines
06/02/201507:50:07Petrobras Confirms $2.5 Billion Bond Sale
05/27/201508:50:06Brazil's Petrobras Unveils Details Of Debentures Issue
05/26/201516:00:06Former Petrobras Executive Sentenced to Five Years
05/19/201519:50:10China Premier Unveils Financing, Trade Pacts in Brazil

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