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STXNEWS LATAM-Strong results seen for Brazil commodity firms-Itau
2013年10月9日 / 上午11点15分 / 4 年前

STXNEWS LATAM-Strong results seen for Brazil commodity firms-Itau

Itaú BBA, the investment banking unit of Brazilian banking giant Itaú Unibanco Holding SA, expects most of the commodities companies it covers to report a “strong set of third-quarter results,” supported by a recent decline in the currency that made their exports more competitive in global markets. In a Wednesday note, analysts led by Paula Kovarsky said a weaker Brazilian real created a protection mechanism for its products in domestic markets, where revenue and market share for local companies grew by making imports more expensive. The analysts expect domestic prices rose as imports lost ground, the note said.

Among the companies likely to post robust earnings: Usinas Siderúrgicas de Minas Gerais SA, a steelmaker known as Usiminas ; mining giant Vale SA ; and paper and pulp producers Suzano Papel e Celulose SA and Fibria SA.

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