Brazilian stocks fell on Friday, weighed by concerns on Wall Street. over the looming bankruptcy of automaker General Motors Corp and data showing much deeper than expected business activity slump in the US Midwest. The benchmark Bovespa index of the Sao Paulo stock exchange dropped 1.1 percent to 52,436 points.
Despite the losses on Friday, the index has jumped 11 percent in May, its third straight month of gains. State-run energy giant Petrobras fell 1.5 percent to 34.12 reais, its first decline after gaining 6.6 percent over five straight sessions, even as crude oil prices jumped 1.6 percent in New York. Mining giant Vale dropped 1 percent to 32.57 reais.
Cosmetics maker Natura plunged 7 percent to 25.3 reais. Controlling shareholders of Natura are considering selling stock in an offering in the local bourse, the company said in securities filing without giving details of the plan. Valor Economico newspaper said on Friday the sale could total 1.8 billion reais.
Clothing retailer Lojas Renner dropped 4 percent to 20.93 reais. UBS Pactual cut its recommendation on the stock to neutral and reduced its 2009 net income forecast by 6 percent to 140 million reais because of a slowdown in Brazil's economy.
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