Brazilian Sugar Industry Shares Drop on Possible Government Intervention

Brazil- Monitoring of ethanol by the ANP – National Petroleum Agency and the intention of government intervention in sugar exports and the domestic market for ethanol has influenced negatively on sector stocks in Bovespa.

Last week the rumors pushed down the shares of Cosan (CSAN3) in the Bovespa index. The roles of the company fell 8.67% and ended the R-rated $ 23.82 a week. With a target price of R $ 34.00, a buy recommendation for Cosan (CSAN3) remained stable.

Shares of Cosan (CSAN3) led the losses in the Bovespa index on April 7, to close with a sharp fall of 5.23%, trading at R $ 24.45.

São Martinho (SMTO3) was another company in the sector affected by the news since the first week of its shares closed down 2.41%, trading at R $ 24.30 – minimum intraday – after having already retreated 3.19% yesterday. Already active Tereos (TERI3) ended down 0.57% to R $ 3.48 in the period.

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