STXNEWS LATAM-Brazil CSN shares up over 11 pct on buyback plan

viernes 18 de julio de 2014 09:54 GYT

Shares in Brazilian steelmaker CSN jumped as much as 11.5 percent in early trade on Friday after the company launched a share buyback program.

The company, formally known as Companhia Siderurgica Nacional, said late on Thursday it would buy back as many as 64.2 million shares between July 18 and Aug. 18.

CSN shares were up 9.18 percent at 11.66 reais at 1336 GMT, trading near a six-month high. (Editing by Peter Galloway)