Hypermarcas SA, the maker of more than 190 consumer products, posted its biggest two-day gain in a month on speculation the stock will obtain a larger weighting in Brazil’s benchmark Bovespa (IBOV) index.
The stock gained 3.3 percent to 8.04 reais at the close in Sao Paulo and climbed 7.5 percent in the past two sessions. It’s still the second-worst performer on the 68-member Bovespa this year, plunging 64 percent as the benchmark lost 21 percent.
The company’s weight in the gauge will likely rise to 1.6 percent in January from 0.9 percent now, Carlos Sequeira, an analyst at Banco BTG Pactual SA, wrote in a note to clients yesterday. An official at exchange operator BM&FBovespa SA, who asked not to be identified due to internal policy, said a preview is set to be released early next month and declined to comment on possible changes.
Funds that track the index will increase their holdings as a result of the change, Caue Pinheiro, an analyst at Sao Paulo- based brokerage SLW Corretora, said by telephone today. “The stock has really been lagging,” he said.
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