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| Name | Symbol | Market | Type |
|---|---|---|---|
| Vale SA | NYSE:VALE | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.10 | 0.82% | 12.27 | 12.375 | 12.10 | 12.19 | 14,476,200 | 00:57:24 |
From May 2019 to May 2024
By Jeffrey T. Lewis
SAO PAULO--Brazilian shares rose Wednesday, with Vale SA advancing after the iron miner said investment will plunge through 2018, and the real weakened against the dollar.
The Ibovespa stocks index rose 2% to 53876 points. The real exited active trading at 3.1158 to the dollar, according to Tullett Prebon via FactSet, after closing at 3.1010 on Tuesday.
Vale said Wednesday it will invest a total of $9 billion this year, down from $12 billion last year, and then invest another $7 billion in 2016. Capital spending will continue to slow in 2017 and 2018, to $5 billion and $4 billion respectively.
The company also said it expects to raise between $6 billion and $7 billion with the sale of certain assets that aren't part of its core business. Vale's preferred shares rose 4.8% to 17.80 reais.
Shares of Petroleo Brasileiro SA, the state-controlled oil company known as Petrobras, gained 0.6% to 13.05 reais as the price of oil rose following a U.S. report showing stronger-than-expected demand for crude oil and gasoline.
-Rogerio Jelmayer contributed to this article.
Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com
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