Thursday, May 7, 2009

Newswire: Latin America - Brazil

Brazil is dominating the Latin America section on Bloomberg this morning with 6/7 articles in the Financial News tab focused on developments pertaining to the Brazilian economy, stock markets or specific companies.

Brazil to Sell $500 Million of Bonds, Tapping Into Rally to Lower Costs
Brazil plans to sell $500 million of 10-year bonds in international markets as soon as today, taking advantage of a rally in emerging-market debt, according to a person familiar with the transaction.


Bovespa Halts Biggest Rally Since Early 2009 on Profit, Economy Concerns
Brazilian stocks fell, halting their biggest rally since the start of the year, on concern the deepening slowdown in Latin America biggest economy will hurt the profit outlook for banks and commodity producers.


Vale Predicts 55% Tumble in Mining Investment as Quarterly Profit Declines
Cia. Vale do Rio Doce, the world’s biggest iron-ore producer, said global investment in the mining industry may fall by $60 billion this year after the company posted its third straight decline in quarterly profit.


Brazil's Central Bank Says Global Slump May Allow for Further Rate Cuts
Brazilian central bank policy makers said the global economic slump may allow them to keep lowering interest rates without jeopardizing their inflation target, according to the minutes of the April 28-29 meeting posted on the bank’s Web site today.


Gerdau 1st-Quarter Profit Falls 90% as Output, Sales Fall in U.S., Brazil
Gerdau SA, Latin America’s biggest steelmaker, said first-quarter net income fell 90 percent as sales volumes slumped on a global economic slowdown.


Brazilian Banks Are Most Expensive Since Bovespa's Peak, JPMorgan Says
Investors should reduce holdings of Brazilian bank stocks after valuations climbed to the most expensive level since the nation’s equity market peaked last year, according to JPMorgan Chase & Co.

0 comments: