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Braskem Rises Most in Week as Earnings Beat Estimates

Feb. 7 (Bloomberg) -- 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.

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

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

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