Do you guys think that what's happening in Brazil may help push up the I fund??? Per Bloombergnews today:
Marcopolo, Petrobras and Vale do Rio Doce: Brazil Equity Movers
By Paulo Winterstein
Sept. 18 (Bloomberg) -- Brazil's main stock index rose for the first time in three days, led by state-controlled oil company Petroleo Brasileiro SA.
The Bovespa Index of the most-traded shares on the Sao Paulo exchange gained 779.24, or 1.4 percent, to 55,119.78 as of 9:25 a.m. New York time.
The following are the stocks that are most active in the Brazilian market today. In Brazil, the preferred share is usually the company's most-traded class of stock.
Cia. Vale do Rio Doce (VALE5 BS), the world's second-biggest nickel producer, rose 85 centavos, or 1.9 percent, to a record 44.75 reais. Nickel jumped 3.3 percent in London to the highest price in almost seven weeks.
Marcopolo SA (POMO4 BS) gained for the first time in eight sessions, rising 7 centavos, or 0.9 percent, to 8 reais. Latin America's biggest maker of bus bodies increased August production 20 percent from a year earlier, a ``considerable'' gain that boosted revenue 11 percent as bus prices fell, Brascan Corretora analyst Beatriz Battelli wrote in a report e-mailed yesterday.
Petroleo Brasileiro SA (PETR4 BS) gained for a second day, advancing 71 centavos, or 1.3 percent, to 55.20 reais. Crude oil rose to more than $81 a barrel for the first time, on speculation rising demand will deplete stockpiles needed during winter in the Northern Hemisphere.
Vivo Participacoes SA (VIVO4 BS), Brazil's biggest mobile- phone company, rose 11 centavos, or 1.3 percent, to 8.76 reais. Vivo will take part in an auction of wireless frequencies in northeastern Brazil, Diario Economico reported, without saying where it got the information. Vivo offers roaming services in those Brazilian states, according to the Portuguese newspaper. Today is the deadline for proposals, Diario said.
To contact the reporter on this story: Paulo Winterstein in Sao Paulo at at
pwinterstein@bloomberg.net .
Last Updated: September 18, 2007 09:35 EDT