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    Your email address will not be published.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 Is All Talk and No Help, Says Bolivia’s President

    The President of Bolivia, Evo Morales, does not include Brazil on the roll of ...

    An international conference in São Paulo, Brazil

    Brazil Gets US$ 35 Million from Event Tourists Mostly from US and Argentina

    Tourists from overseas who participated in technical and scientific events in Brazil spent US$ ...

    What’s Real with the Real?

    The first cases of AIDS in Brazil were diagnosed in São Paulo and Rio ...

    Brazil Doesn’t Know the Arabs and Vice-Versa

    The South American – Arab Countries Summit, which gets underway tomorrow, May 10, will ...

    Brazil's Central Bank chairman Henrique Meirelles

    Fearing Inflation Brazil Gets Ready to Hike Interest Rates

    The president of Brazil's Central Bank, Henrique de Campos Meirelles said that his bank ...

    Unemployment Down in Brazil, Production Too

    Brazil’s unemployment rate reveals a firm downward trend, which should become more solid over ...

    Zap

    Brazilian Classified Portal ZAP Adds Comparison Shopping Tool

    Brazilian shop portal ZAP and BuscaPé, a price comparison site from Brazil, are joining ...

    zzz

    Can Brazil Get Olympic Medal for Fighting Crime, Child Sex and Police Brutality?

    With colorful and scandalous flourishes, in a nation where the bizarre is often normal, ...

    Brazil Only Loses to Chile in High Cost of Living in South America

    Chile, Brazil and Uruguay have the highest cost of living in Latinamerica according to ...

    Brazil Wants to Build a Disneyland in Capital Brasí­lia

    Brazilian officials are talking with the Walt Disney Co. about a deal that would ...