Tractebel Gains on Addition to Benchmark Index: Sao Paulo Mover

Tractebel Energia SA (TBLE3), Brazil’s biggest utility by market value, rose the most in eight months after the country’s stock exchange said it would add the company to its main equity gauge.

The shares gained 2.7 percent to 37.49 reais at 12:48 p.m. in Sao Paulo, the biggest one-day advance since May 7 on a closing basis. Trading volume was twice the three-month daily average. The Ibovespa (IBOV) benchmark climbed 0.6 percent.

Tractebel will be added to the Ibovespa starting Jan. 6, BM&FBovespa SA, the exchange’s operator, said in a statement today. The bourse announced last year that it would exclude shares trading for less than 1 real and give more emphasis to the value of publicly traded shares instead of liquidity to determine individual weightings.

BM&FBovespa confirmed the additions of BB Seguridade Participacoes SA, EcoRodovias Infraestrutura & Logistica SA, Estacio Participacoes SA, Even Construtora & Incorporadora SA and Qualicorp SA.

The exchange operator is also excluding Eike Batista’s MMX Mineracao & Metalicos SA from the Ibovespa as well as the previously announced B2W Cia. Digital, Cia. de Transmissao de Energia Eletrica Paulista, Vanguarda Agro SA and voting shares of Usinas Siderurgicas de Minas Gerais SA and Oi SA.

MMX dropped 7.5 percent to 62 centavos today in the worst performance on the benchmark gauge.

To contact the reporter on this story: Julia Leite in New York at jleite3@bloomberg.net

To contact the editor responsible for this story: Brendan Walsh at bwalsh8@bloomberg.net

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