Bovespa Declines on Disappointing Earnings, Higher Unemployment
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The Bovespa stock index fell for the first day in three sessions, paring a weekly gain, as companies posted lower-than-forecast earnings and a report showed Brazil’s unemployment rose in February.
Beef producer JBS SA and homebuilder MRV Engenharia & Participacoes SA tumbled after posting fourth-quarter earnings that trailed analysts’ estimates. Retailer Lojas Americanas SA fell on a plan to inject as much as 1 billion reais ($603 million) into its online unit, B2W Cia. Global do Varejo.