Rochester,NY 8/20/2009 10:21:42 PM
Centrais Electricas Brasileiras S.A. EBR fell the most on the Bovespa index after posting a quarterly loss
Centrais Electricas Brasileiras S.A.
Centrais Eletricas Brasileiras SA, Latin America’s largest utility, fell the most on the Bovespa index after posting a quarterly loss that was almost five times larger than analysts expected as a rally in the Brazilian real reduced revenue from its Itaipu plant.
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Its shares fell 3.3 percent to 26.64 reais in Sao Paulo trading, leading declines on the benchmark Bovespa. Preferred shares, the most traded, fell 2.2 percent to 24.06 reais. The second-quarter net loss of 2.09 billion reais ($1.13 billion), compared with profit of 142.8 million reais a year earlier, the utility known as Eletrobras said in a regulatory filing yesterday. Rio de Janeiro-based Eletrobras was expected to post a loss excluding some items of 434.6 million reais.
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