Bloomberg the Company

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

Follow Us

Industry Products

Ibovespa Heads for Second Weekly Advance on Homebuilders

Don't Miss Out —
Follow us on:

May 24 (Bloomberg) -- The Ibovespa headed for a second weekly gain as Brazilian homebuilders advanced, outweighing a drop in raw-materials companies.

MRV Engenharia e Participacoes SA rose the most on the BM&FBovespa Real Estate Index. Fibria Celulose SA, the world’s largest pulp producer, gained as the company said it will sell assets to pay down debt. Iron-ore producer Vale SA tumbled for a third day, following metals lower.

The Ibovespa was little changed at 56,314.29 at 4:33 p.m. in Sao Paulo. It has gained 2.1 percent this week. Thirty-five stocks dropped on the benchmark today while 36 rose. The real weakened 0.2 percent to 2.0479 per dollar.

MRV advanced 4.7 percent to 7.73 reais. Fibria gained 2 percent to 22.52 reais. Vale lost 0.7 percent to 30.18 reais.

To contact the reporters on this story: Ney Hayashi in Sao Paulo at ncruz4@bloomberg.net; Julia Leite in New York at jleite3@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos 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.