12/11/2008 11h04
Good perspectives for Gerdau
Gazeta Mercantil - 12/11/2008
The shares of Gerdau, the biggest steel mill of Latin America, had the greatest high in almost two months, after Santander bank said the company is a "potential winner" regarding the investment plan in infrastructure of elected president of the United States Barack Obama. Gerdau, which obtains 45% of its income from operations in North America, had a high in its shares of 4.7% to R$ 16.69, in the São Paulo Stock Exchange's section. The United States unit's papers, Gerdau Ameristeel, advanced 16%, to US$ 5.44, in Wall Street. "Among the steel mills of Latin America we believe that Gerdau, through its Gerdau Ameristeel subsidiary, will be the most benefited one with such infrastructure plan, as 25% of its total incomes are directed to the infrastructure sector of the USA", wrote Santander's analysts, together with Felipe Reis, in a note to the clients yesterday.
