FRIDAY, MAY 9, 2014

SAO PAULO–Brazilian stocks closed lower on Friday, with Petrobras declining ahead of the release of its earnings results for the first quarter, and the real weakened against the dollar.

The benchmkark Ibovespa stocks index fell 0.6% to 53100 points. The real exited active trading at BRL2.2178 according to Tullett Prebon via FactSet, after closing at BRL2.2022 on Thursday.

State-controlled oil company Petrobras will announce its results Friday evening. Analysts expect the company to announce a decline in net profit. Shares fell 1.2% to BRL17.67.

Brazilian blue-chips closed mostly lower.

Iron-miner Vale gave up 1.2% to 26.50. Retail bank Itau fell 0.9% to BRL36.85 and rival Bradesco declined 0.8% to BRL34.29.