NEW YORK ( TheStreet) -- Brazil's economy expanded 9% in the first quarter and is expected grow by 7.2% in 2010, according to the country's central bank. Brazil's hot economy, accompanied by low inflation, boosted domestic companies' sales during the second quarter. Ultrapar Participacoes (UGP - Get Report), Companhia Siderurgica Nacional (CSN) (SID - Get Report), and CPFL Energia (CPL - Get Report) posted earnings surprises for the quarter and noted Brazil's robust economy as the prime reason.Ultrapar is a leading conglomerate with businesses in fuel distribution (Ultragaz/Ipiranga), chemicals (Oxiteno) and storage for liquid bulk (Ultracargo). In August 2008, Ultrapar acquired Chevron (CVX - Get Report) Texaco's fuel distribution business in Brazil.
Brazil's Hot Economy Boosts Sales
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