While JBS SA and Tyson Foods Inc. tussle for a bigger share of the U.S. processed-food market, BRF SA is stepping up its growth efforts in emerging markets.
Uncertainties of U.S. economic recovery are generating “panic” in the markets, Pedro Galdi, head strategist at Sao Paulo-based brokerage SLW Corretora, said in a telephone interview.
The Ibovespa posted its biggest two- day gain since 2012 as raw-material producers including Vale SA followed commodities higher.
Brazil’s highest court postponed a decision on lawsuits depositors filed against banks to recover losses from government policies to fight hyperinflation in the 1980s and 1990s.
Oi SA’s preferred shares fell to a record low after the company was said to raise 8.25 billion reais ($3.71 billion) by selling stock at a price below yesterday’s close. The funding paved the way for a merger with Portugal Telecom SGPS SA.
"It's a negative day for the global markets, and investors are using the opportunity for some profit-taking."
- Pedro Galdi on Jul 25, 2014