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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
10/21/201418:31:31ADR Shares End Mixed; ARM Holdings Shares Trade Actively
10/16/201418:04:26ADR Shares End Mixed; Petrobras Shares Decline
10/07/201418:06:09ADR Shares End Mixed; Rio Tinto Shares Trade Actively
10/05/201420:02:54Brazil's Presidential Race Headed for Runoff -- 3rd Update
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10/02/201408:27:16Dof Gets Contract For Skandi Hav Vessel From Petrobras
09/30/201418:03:23ADR Shares End Lower; America Movil, HSBC Shares Trade Actively
09/29/201417:44:48ADR Shares End Lower; Petrobras, Itau Unibanco Trade Actively
09/29/201403:47:20Dof's Skandi Santos Vessel Gets Five-Year Contract Extension
09/26/201420:04:31ADR Shares End Higher; Petrobras Shares Trade Actively
09/23/201418:17:35ADR Shares End Lower; AstraZeneca, Shire Shares Trade Actively
09/15/201405:10:00Aker Solutions Gets $465 Million Contract Offshore Brazil
09/09/201416:40:20Brazil's Silva Would Win Presidential Election in October--Poll
09/05/201417:38:25Brazilian Stocks Snap Winning Streak Ahead of Opinion Poll on...
08/27/201417:47:35ADR Shares End Higher; Telefonica, Ryanair Shares Active
08/25/201417:19:14ADR Shares End Higher; Statoil Shares Active
08/13/201422:01:44Pemex Has Talked With Firms About Working on Projects
08/13/201417:35:08ADR Shares End Mixed; Petroleo Brasileiro Shares Trade Actively
08/06/201415:09:25Brazilian Presidential Candidates Propose Improvements for Agribusiness...
08/01/201417:41:36Brazilian Shares Close Little Changed, JBS Rises; Real Stronger...

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