Ibovespa Futures Rise After Bradesco’s Profit Exceeds Estimates

Ibovespa futures rose, following two straight sessions of losses for the benchmark equity gauge, as Banco Bradesco SA (BBDC4) reported quarterly profit that exceeded analysts’ estimates and commodities advanced.

Faucet maker Duratex SA (DTEX3) may be active after JPMorgan Chase & Co. withdrew a buy recommendation for the stock. Cosmetics company Natura SA may move as earnings trailed forecasts.

Ibovespa futures contracts due in June rose 0.7 percent to 52,590 at 9:27 a.m. in Sao Paulo. The real strengthened 0.3 percent to 2.2151 per U.S. dollar. The Standard & Poor’s GSCI index of 24 raw materials added 0.3 percent. Commodity producers account for about one-third of the Ibovespa’s weighting.

Bradesco reported first-quarter adjusted net income of 3.47 billion reais, exceeding the average estimate of analysts. The lender accounts for about 8 percent of the Ibovespa’s weighting. Natura’s first-quarter adjusted net income declined 6 percent to 117.2 million reais from a year earlier.

Trading volume of stocks in Sao Paulo yesterday was 6.12 billion reais, compared with a daily average of 6.74 billion reais this year, according to data from the exchange.

To contact the reporter on this story: Denyse Godoy in Sao Paulo at dgodoy2@bloomberg.net

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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.