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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Gerdau SA | NYSE:GGB | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 3.51 | 13 | 13:45:17 |
By Jeffrey T. Lewis
SAO PAULO--Brazil's Bovespa stocks index closed lower Friday, weighed down by lackluster local industrial data and declines registered by local oil heavyweight Petrobras (PBR, PETR3.BR, PETR4.BR). The benchmark Ibovespa stocks index declined 0.5% to 54013 points.
State-controlled oil company Petrobras weighed on the index as the company's shares gave back strong gains seen in recent sessions. Shares fell 2.8% to 19.86 Brazilian reais ($8.79). Petrobras, the most-heavily-weighted shares in the Ibovespa, gained 7.4% this week, even after Friday's decline.
Traders said the decline was also partly due to weaker-than-expected industrial output figures locally. Brazil's IBGE statistics institute reported local industrial production came in below forecasts. Industrial output rose 0.7% during the month, less than projections of around 1.2%.
Meanwhile, companies in the mining and steel sectors were among gainers amid a boost from firm third-quarter earnings results by steelmaker Gerdau and news of a $500 million shipping deal between iron miner Vale (VALE, VALE3.BR, VALE5.BR, VALE5.FR) and Shandong shipping in China. Shares of Vale rose 1.9% to BRL33.45 and Gerdau (GGB, GGBR3.BR, GGBR4.BR) shares gained 3.7% to BRL18.32.
Write to Jeffrey T. Lewis at Jeffrey.lewis@wsj.com
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