Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Hypermarcas Rallies on Outlook for Larger Bovespa Weighting

Nov. 25 (Bloomberg) -- 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 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.

To contact the reporter on this story: Alexander Cuadros in Sao Paulo at acuadros@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos in New York at papadopoulos@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.