Brazil’s Ibovespa futures dropped, following the benchmark equity index’s biggest decline in two weeks yesterday, amid concern that the economic recovery in the U.S. is faltering.
Renova Energia SA (RNEW11), a Brazilian developer of wind and hydroelectric power, may move after shareholders filed to sell about 1.15 billion reais ($478 million) of units. Machinery manufacturer Industrias Romi SA (ROMI3) may be active after Banco Itau BBA SA raised its recommendation to the equivalent of buy.
Ibovespa futures contracts expiring in April fell 0.3 percent to 46,910 at 9:14 a.m. in Sao Paulo. The real weakened 0.3 percent to 2.4034 per U.S. dollar. Futures on the Standard & Poor’s 500 Index expiring in March declined 0.3 percent before a U.S. report today that is forecast to show that construction of new houses declined in January.
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