• Categories
  • Archives

Brazil Has Latin America’s Two Largest Companies: Petrobras and Vale

Brazil's Vale State-controlled oil multinational Petrobras and mining company Companhia Vale do Rio Doce (CVRD), both from Brazil, ended 2007 as the two largest companies in Latin America by market capitalization, according o a study just released by consulting company Economática.

According to the study, Petrobras maintained its lead and CVRD overtook Mexican telephony company America Movil to take on second place.

The study also noted that the 25 largest listed companies in Latin America had a joint market capitalization of US$ 1.072 trillion – 51.8% higher than the US$ 706.44 billion in 2006.

The number of Brazilian companies in the top 25 rose from 12 to 13. The new company in the listing is Bovespa Holding, which floated some of its shares in October. Mexico is the country with the second-highest number of companies in the list, nine companies. Argentina has two companies, Tenaris and YPF, and Chile one: Copec placed 15 with a value of 23.33 billion US dollars.

Petrobras guaranteed its top spot by increasing its market cap by 125.3%, reaching a total market value of US$ 242.72 billion and CVRD, in its turn, rose in value by 125.4% to 154.5 billion.

Along with Bovespa Holdings, three more companies – Mexican mining company GrupoMexico, Brazilian steel maker CSN (Companhia Siderúrgica Nacional) and Banco Santander Brasil – entered the list this year.

Chilean companies Endesa and Enersis and Brazilian telecoms companies Telesp (Telefônica) and TIM Participações did not make the list after being included last year.

Mercopress

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Brazil Injects US$ 7 Billion in Economy to Prevent US Contagion

Brazilian monetary authorities eased rules on reserve requirements that banks must keep at the ...

Report on Boeing Tragedy in Brazil Will Spread the Blame

The preliminary report on the worst Brazilian air accident ever will not blame just ...

Is Brazil’s Green Revolution Killing the Green?

Despite the multitude of approaches that have been suggested to deal with the developing ...

People for Export

If the exodus has helped in some way to alleviate the unemployment problem the ...

Brazil: Lula’s Useless Refineries

We don’t need the new oil refineries promised by President Lula. In Brazil, we ...

Brazil’s Shoes Exports Drop 9%, But Revenues Zoom Up 8%

External sales in the Brazilian shoes sector dropped 9% from January to July this ...

Brazil Strings and Wind Get World Respect

Brazilian musical instruments have accelerated their rhythm of export. Last year, sector foreign sales ...

Brazil’s Vivo Gets Intellisync for Its Wireless Email

California-based Intellisync Corporation, a leading developer and marketer of wireless email and mobile software, ...

Smile Brazil Helps Seniors, 75% of Which Are Toothless

Over 48 million people in Brazil have received free dental care since March, 2004, ...