Petrobras and Vale are Latin Americas largest companies
O Estado de S.Paulo - 01/11/2008
Among the 25 largest publicly-listed companies according to market value in Latin America, 13 are in Brazil. Petrobrás is on the top of the list of the largest companies in 2007 with a market value of US$ 242.7 billion, followed by Vale do Rio Doce, which ended the year with US$ 154.5 billion in value, according to Economática, a company specialized in financial information. Latin America's 25 largest companies with stocks listed in exchange markets, accumulated a market value of US$ 1.072 trillion in 2007 in comparison with 2006's US$ 706.4 billion, which represented an increase of 51.8%. But all these 25 companies together are worth less than the three largest North American companies. Exxon Mobile, General Electric and Microsoft reached, together, a market value of US$ 1.2 trillion in 2007. "In Brazil's case, part of the growth of more than 50% can be attributed to the fall of the dollar. But, undoubtedly, the valuation of the companies also was considerable", says Economática's manager of Institutional and Commercial Relationship Einar Rivero. Petrobras and Vale's market value grew 125% in relation to 2006. "Both had fabulous performances", says Rivero. In the ranking of the largest American companies, including those from the United States, Petrobras is in fourth place, behind AT&T, with a market value of US$ 252.051 billion. Vale was benefited by the acquisitions of companies, such as the Canadian Inco, one of the largest producers of nickel in the world and also for the increase of the commodities. In the list of the market value top 25 of Latin America, Mexico is represented by nine companies, one more than in the previous year. As for Brazil it went from 12 companies to 13. The new companies among the top 25 in 2007 are Bovespa Holding (BR), Grupo Mexicano (MX), Santander (BR) and CSN (BR).