BM&FBovespa's index changes not driven by OGX plunge, CEO says
SAO PAULO, Sept 12
SAO PAULO, Sept 12 (Reuters) - BM&FBovespa SA, Brazil's only financial exchange operator, did not make changes in its benchmark Bovespa stock index because of a tumble in the share price of cash-strapped oil producer OGX Petróleo e Gas Participações SA, BM&FBovespa Chief Executive Edemir Pinto said on Thursday.
Changes to the Bovespa "had been considered for quite a long time, they didn't brew because of short-term situations," Pinto said at an event to present the new methodology in São Paulo. The changes were the first since 1968, and aimed at better reflecting the new reality of Brazil, the second-largest emerging market economy.
- White House reverses, says Obama met uncle and lived with him during law school
- South Africans, some fearful, wake to life without Mandela |
- U.S. television, Twitter, alive with new version of 'Sound of Music'
- Ford leans on global Mustang to burnish overseas image
- RPT-UPDATE 1-Ford leans on global Mustang to burnish overseas image