News

Fibria Celulose SA, the world’s largest pulp producer, jumped the most in a week on mounting evidence global growth is recovering and Brazilian cardboard sales rose.

Fibria jumped 3.1 percent to 30.31 reais at 10:41 a.m. New York time, paring this year’s decline to 22 percent. Rival Suzano Papel e Celulose SA gained 1 percent to 16.77 reais, extending a 2.3 percent 2010 gain.

“This is one of the sectors that has suffered the most on growth concern,” said Fabio Cardoso, a partner at Adinvest Consultoria, a Rio de Janeiro-based equity consulting firm. “It has more to do with improving global economic sentiment, like the news coming out of China today, than the Brazilian paper numbers.”

Brazil’s cardboard sales rose to 213.9 thousand metric tons in August, a 10.3 percent increase from a year earlier, according to the Brazilian Corrugated Paper Association in Sao Paulo. This was a 1.8 percent drop from July.

China’s industrial production rose 13.9 percent in August from a year before, the most in three months, and retail sales and lending figures topped economists’ estimates, statistics bureau and central bank data released in Beijing showed.

http://www.bloomberg.com/news/2010-09-13/pulp-producer-fibria-surges-on-china-economic-data-cardboard-sales-growth.html