Regulatory reform divides Brazilian water stocks
- From: Vol 11, Issue 1 (January 2010)
- Category: General
- Region: Americas
- Country: Brazil
- Related Companies: Agbar, AyA, Banco Santander, Copasa, Idaan, Metito, Moody’s, Sabesp and Sanepar
The relative outperformance of Copasa versus Sabesp on the Brazilian stock market last year was partly down to greater clarity over tariff reform in Minas Gerais state. The tables were turned in early January 2010, however.
Brazil’s two largest quoted water utilities, Sabesp and Copasa, shared differing fortunes in 2009, partly thanks to the varying pace of regulatory reform in the states of São Paolo and Minas Gerais.
While both stocks underperformed the Ibovespa index – which rose by 83% last year – Copasa shares rose by 77%, reflecting the view that the company continues to ...
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