Bloomberg the Company & Products

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

MRV Rises With Homebuilders on Growth Outlook: Sao Paulo Mover

Don't Miss Out —
Follow us on:

Sept. 2 (Bloomberg) -- MRV Engenharia & Participacoes SA, Brazil’s second-biggest homebuilder by market value, rallied as economists increased their projections for economic growth this year, fueling optimism on real-estate demand.

The shares advanced 5.2 percent to 8.76 reais at the close of trading in Sao Paulo, the highest level since April 23. The BM&FBovespa Real Estate Index added 3.5 percent.

Nineteen out of 20 stocks in the real-estate gauge rose today. Gafisa SA climbed 5 percent to 2.94 reais, PDG Realty SA gained 6.5 percent to 2.45 reais and Brookfield Incorporacoes SA advanced 7.6 percent to 1.83 reais. Cyrela Brazil Realty SA, the nation’s biggest homebuilder by market value, rose 2.2 percent to 16.06 reais.

“A scenario of bigger growth for Brazil is positive for homebuilders as it should mean higher revenue,” Felipe Rocha, an analyst at brokerage firm Omar Camargo, said by phone from Curitiba, Brazil.

Economists covering Brazil raised their growth forecasts for this year to 2.32 percent from 2.20 percent, according to the median of about 100 estimates in a central bank survey published today.

Brazil’s gross domestic product advanced 1.5 percent in the second quarter from the prior three months, the national statistics agency reported Aug. 30. The expansion exceeded the projections of all of the 44 analysts surveyed by Bloomberg.

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