Brazilian stocks eked out gains on Friday despite softer US bourses, while the local currency eased back from its strongest in nine months. The Bovespa index of the Sao Paulo Stock Exchange rose 0.41 percent to 44,997.83 points. In local stock trading, shares of NET, Brazil's biggest cable television provider, rose 1.3 percent to 26.50 reais.
It reported fourth-quarter net income on Friday that fell nearly 80 percent to 28.42 million reais from a year earlier because of increased tax costs. But the cable operator - which has long struggled to boost its client base and cashflow generation - reported a 23 percent rise in sales.
Earnings before interest, taxes, depreciation and amortisation, rose 25 percent. Food processor Sadia finished flat after reporting Thursday night a fourth-quarter profit of 222.9 million reais, slightly down from the 234.3 million reais in the year earlier period. Credit Suisse said in a report on Friday the results were good, though shares may trade volatile on concern over rising international prices of soy and corn Sadia uses to feed poultry. The Brazilian real weakened 0.19 percent to 2.106 per US dollar as the central bank bought greenbacks on the spot market to build foreign reserves.
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