| EMERGING MARKETS-Vale drives Bovespa higher; Brazil real drops 2 pct | |
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(Adds Vale driving Brazil stocks up; updates prices) By Walter Brandimarte RIO DE JANEIRO, May 4 (Reuters) - Shares of miner Vale SA drove Brazil's benchmark Bovespa index higher on Monday, while the real dropped 2 percent after the central bank signaled it will reduce the rollover pace of currency swaps. Currency swaps are derivatives that provide investors with protection against a weaker real. By selling them regularly, the central bank eased demand for dollars by investors interested in currency hedging. Also sapping appetite for the Brazilian real was a steep rise in U.S. Treasuries yields on Friday. Brazilian financial markets were closed that day for the Labor Day holiday so the impact of both the central bank announcement and higher Treasuries yields was felt this morning. In a step to remove policies that kept the real artificially overvalued, the central bank in late March ended its forex intervention program, which consisted of selling a daily amount of currency swaps. It said on that occasion, however, that it would continue to roll over the stock of outstanding swaps. In April, it renewed nearly 100 percent of the swaps that expire in the beginning of May. Key Latin American stock indexes and currencies at 1350 GMT: MSCI Emerging Markets 1047.45 0.14 9.38 MSCI LatAm 2681.08 0.15 -1.85 Brazil Bovespa 57314.63 1.93 14.61 Mexico IPC 44917.14 0.75 4.11 Chile IPSA 4061.18 0.44 5.46 Chile IGPA 19704.17 0.4 4.42 Argentina MerVal 0 0 -100.00 Colombia IGBC 10774.83 0.79 -7.39 Venezuela IBC 5768.13 0 49.48 Currencies daily % YTD % change change Latest Brazil real 3.0755 -2.06 -13.59 Mexico peso 15.516 0.40 -4.98 Chile peso 614.3 -0.46 -1.29 Colombia peso 2410.7 -0.86 -0.94 Peru sol 3.13 0.00 -4.82 Argentina peso (interbank) 8.9050 0.03 -3.99 Argentina peso (parallel) 12.65 0.63 10.67 (Editing by Meredith Mazzilli)
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Vale
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EXPLORATION STAGE |
CODE : VALE3.SA |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Vale is a producing company based in Brazil. Its main exploration property is GALIURO in USA. Vale is listed in Brazil and in France. Its market capitalisation is BRL 333.3 billions as of today (US$ 150.8 billions, € 140.9 billions). Its stock quote reached its lowest recent point on February 19, 2016 at BRL 10.51, and its highest recent level on August 27, 2021 at BRL 99.80. Vale has 5 244 319 744 shares outstanding. |