Most Brazilian stocks declined as lender Banco do Brasil fell to a four-week low after cutting its forecast for a measure of profitability.
Fibria Celulose SA (FIBR3), the world’s largest pulp maker, slid the most among commodities producers amid speculation that the Federal Reserve will trim stimulus earlier than previously expected. Water company Cia. de Saneamento Basico do Estado de Sao Paulo declined to the lowest level this month.
The Ibovespa sank 0.1 percent to 52,557.37 at 10:39 a.m. in Sao Paulo, with 51 stocks lower and 18 higher. The real rose 0.1 percent to 2.3286 per U.S. dollar. Banco do Brasil sank 2.4 percent to 27.42 reais, the lowest since Oct. 15, after cutting its 2013 estimate for growth in net interest income, the gap between revenue from loans and the cost of paying interest on deposits, to no more than 5 percent from as high as 7 percent.
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