Ibovespa Futures Fluctuate on Commodity Gain, Copel’s Earnings

Ibovespa futures fluctuated between gains and losses as higher commodity prices boosted the outlook for Brazilian producers and electricity distributor Cia. Paranaense de Energia’s earnings trailed analysts’ estimates.

Homebuilder MRV Engenharia e Participacoes SA may be active after saying it plans to buy back about 5 percent of its publicly traded shares. Vale SA (VALE5) may move as Aquila Resources Ltd. seeks to sell a stake in a coal project in Australia co-owned by the Brazilian mining company.

Ibovespa futures contracts due in April were little changed at 45,395 at 9:24 a.m. in Sao Paulo after swinging between a gain of 0.1 percent and a loss of 0.1 percent. The equity index yesterday gained 0.3 percent, snapping a two-day decline. The real climbed 0.1 percent to 2.3475 per U.S. dollar today. The Standard & Poor’s GSCI index of 24 raw materials gained 0.2 percent.

Copel, as Cia. Paranaense is known, posted fourth-quarter net income attributable to controlling shareholders of 174.1 million reais. Analysts surveyed by Bloomberg had forecast adjusted net income would be 257 million reais.

The Ibovespa entered a bear market on March 14 after falling 20 percent from its October 2013 high through that day as concern that an economic slowdown will spur a cut in Brazil’s credit rating drove down real-estate companies and retailers amid a selloff in emerging-market assets.

Trading volume of stocks in Sao Paulo was 7.72 billion reais yesterday, compared with a daily average of 6.34 billion reais this year, according to data from the exchange.

To contact the reporter on this story: Ney Hayashi in Sao Paulo at ncruz4@bloomberg.net

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

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