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

    Brazil's 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    Your email address will not be published.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 Has Strong Case Against Bolivia in International Court

    The Brazilian government has the option of going to court (the International Court of ...

    Brazilian exports

    Brazil’s Trade Surplus Falls 35% to US$ 19.44 Bi, Worst in 10 Years

    Brazil posted its smallest annual trade surplus in a decade last year as a ...

    Brazil’s Vice-President Undergoes Angioplasty. All Is Well.

    Brazil’s Vice-President of the Republic and Minister of Defense, José Alencar, underwent a heart stint ...

    Japanese Banks Finance Brazil’s Petrobras Expansion

    Petrobras, the Brazilian oil giant, and a consortium of international banks signed yesterday, May ...

    Overpopulated

    Brazil started the century with 17 million people and ended it with an estimated ...

    Lebanon Gets Closer to Brazil Where 12 Million Lebanese Live

    Strengthening political, cultural and economic bonds between Lebanon and Brazil. This is the main ...

    Shocks and Burning Part of Hazing in Brazilian Army

    The army in Brazil has launched an investigation after images of soldiers being beaten ...

    Fish: Brazil Goes for the Big Catch

    With expectations that world demand for fish will rise by 60 million tons in ...

    Fireworks in Copacabana for New Year's

    Lula Has a Word to Describe Brazil 2010: Extraordinary

    Talking about the measures announced last week by his government's economic team, Brazilian president ...

    Brazil Gets Its First Official Koran Translation

    The Arab-Brazilian Chamber of Commerce is launching a Portuguese edition of the Koran, the ...