STXNEWS LATAM-Brasil Properties seen entering Brazil's Bovespa index- BTG Pactual

Mon Mar 25, 2013 7:24am EDT

According to estimates by strategist Carlos Sequeira of BTG Pactual Group, shares of real estate company Brasil Properties SA will likely be included in the benchmark Bovespa stock index, with a 0.7 percent weighting. In a Monday client note, BTG Pactual said BM&FBovespa SA, which owns the index, will announce the first preview of its May-August 2013 indices.

In addition, Sequeira and his team said that shares in oil and gas producer OGX Petróleo e Gas Participações SA are likely to gain weight again - by 2.2 percentage points - in the index for the upcoming preview. OGX will likely have a 5 percent weighting in the Bovespa, compared with the current 2.8 percent stake.

On a sector basis, oil & gas, mining, and steel shares should win more space in the Bovespa at the expense of banks - which look set for a reduction in their stake by an aggregate 1.9 percentage points, primarily due to a reduction of 0.7 point in the stake of Itaú Unibanco Holding SA and of 0.6 point in that for Banco do Brasil SA.

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