Sao Paulo's Bovespa exchange registers 1.3-percent growth

Sao Paulo Stock Exchange (Bovespa) closed 0.41 percentage points higher on Friday, with an accumulated rise of 1.3 percent from Jan. 29 to Feb. 2.

Bovespa's benchmark indicator closed at 44,997 points, against 44,412 points registered on Jan. 26. Throughout the trading day, 3 billion reals (1.4 billion U.S. dollars) were negotiated at Bovespa.

Steel company Usiminas stocks were up 3.83 percent, with an accumulated rise of 5.68 percent during the week. Cable TV/broadband provider Net Servicos was one of the highlights on Friday, especially due to the announcement of an almost 100-percent growth in the amount of subscribers to its internet services in the last quarter of 2006.

Companhia Siderurgica Nacional (CSN) led the ranking of accumulated rises registered this week. Investors have expressed their concerns over the CSN's indebtedness caused by an acquisition of the steel group Corus. Following its frustrated attempt to take over Corus on Tuesday, the company's stocks increased their market value by 14.48 percent at the end of the week.

Source: Xinhua