Braskem Rises Most in Week as Earnings Beat Estimates
Stock Chart for Braskem SA (BRKM5)
Braskem SA, Latin America’s largest petrochemicals producer, rose after reporting fourth-quarter earnings that beat analysts’ estimates.
Shares jumped 1.4 percent to 14.81 reais at the close of trading in Sao Paulo. The benchmark Bovespa index fell 1 percent.
Braskem reported net income of 275 million reais ($139.8 million) in the three months ended in December, which compares with a net loss of 172 million reais a year earlier, according to a regulatory filing today. Analysts surveyed by Bloomberg had forecast adjusted profit to be 238 million reais.
Braskem said net sales increased 8 percent to 9.23 billion reais in the fourth quarter, as a weaker real boosted the company’s exports. The Brazilian currency fell 9 percent in 2012, the biggest slump among its major emerging-market peers after Argentina’s peso.
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