Market Value of Brazil’s Public Listed Companies Plunges Over US$ 200 Billion

Brazil's stock exchange Bovespa The market value of Brazilian publicly listed companies in July reached its lowest total since August last year. The information was supplied by Einar Rivero, director at consultancy firm Economática.

According to Rivero, the combined value of publicly listed companies was 1.927 trillion reais (US$ 1.230 trillion). The highest figure in the history of the country, 2.3 trillion reais (US$ 1.468 trillion), was recorded in May 2008.

According to Economática, from May to July 31, the combined value of the companies decreased by 373 billion reais (US$ 238 billion), or 16.2%. Petrobras and Vale do Rio Doce, whose shares are the most traded at the São Paulo Stock Exchange (Bovespa), were the companies that spearheaded the reduction. According to the consultancy firm, they answered to a 47.4% share of total losses, or 176.9 billion reais (US$ 112.9 billion).

Petrobras alone lost 116.8 billion reais (US$ 74 billion), a figure higher than the market value of Bradesco, one of Brazil's largest banks, which stood at 95.8 billion reais (US$ 61.1 billion).

Vale lost 60.1 billion reais (US$ 38.3 billion) in market value from May to July, a total similar to the value of the Bank ok Brazil (BB), another of Brazil's leading banks, which was worth July 63.8 billion reais (US$ 40.7 billion) in late July.

The BB had the third largest loss in market value from May to July, still according to Economática. The reduction was 18.98 billion reais (US$ 12.1 billion). According to the consultancy firm, the 10 largest publicly listed companies answered to 77.5% of losses, or 289.2 billion reais (US$ 184.6 billion).

Exports

Brazilian exports set a monthly record in July. Foreign shipments totaled US$ 20.453 billion, growth of 38.6% in average daily exports compared with the same month last year, according to figures disclosed today (01) by the Brazilian Ministry of Development, Industry and Foreign Trade.

Imports reached a record high in July as well. They totaled US$ 17.149 billion, growth of 52.2% in average daily imports over the same month in 2007. There was a US$ 3.304 billion surplus on the Brazilian side, a figure 5.5% lower than in July last year, considering the daily average. Flow of trade, i.e., the sum of exports and imports, stood at US$ 37.602 billion in the month.

In the accumulated result for the year so far, exports have totaled US$ 111.098 billion, growth of 27.2% in the average per business day compared with the first seven months of 2007. Imports totaled US$ 96.445 billion from January to July, representing growth of 52.1% in the daily average.

Accumulated trade surplus this year is US$ 14.653 billion so far, a figure 38.7% lower than recorded in the first half of last year.

Anba

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