Monday, April 27, 2009

Swine Flu Drops Shares of Brasilian Airlines and Meat Packers

Though there are no confirmed cases of swine flu in Brazil, the effect of the illness already threaten the business of slaughterhouses and airlines.
This Monday (27/4), the shares of companies in both the sectors declined strongly, as investors expect less export of swine products and less travel to Mexico and the USA.
By 14:00, shares JBS-Friboi (JBSS3) fell by 6.91%, .This Company has pig operations in the United States, country that already has confirmed cases of the illness.
Health department states the swine flu is not transmitted by the meat, but this did not stop China, Russia, South Korea, Indonesia and Thailand placing embargoes on the products from the United States and Mexico.