May 23 (Bloomberg) -- Brazil's main stock index rose for the third time in four days, led by state-controlled oil company Petroleo Brasileiro SA.

The Bovespa Index of the most-traded stocks on the Sao Paulo exchange gained 124.83, or 0.2 percent, to 52,332.92 as of 9:43 a.m. New York time.

The following are the stocks that are most active in the Brazilian market today. In Brazil, the preferred share is usually the company's most-traded class of stock.

Brazil

Cia. Vale do Rio Doce (VALE5 BS), the world's biggest iron-ore and nickel producer, rose 68 centavos, or 0.9 percent, to 73.23 reais. Alcan Inc., Canada's biggest aluminum producer, told shareholders yesterday to reject a takeover bid by Alcoa Inc., raising speculation Vale may make a bid for Alcan.

LPS Brasil Consultoria de Imoveis SA (LPSB3 BS) rose 55 centavos, or 2.7 percent, to 21.25 reais. UBS Pactual analysts Guilherme Vilazante and Gordon Lee said in a note yesterday they initiated coverage of Lopes, as the Brazilian real estate broker is known, with a ``buy'' rating. The company is ``one of the most defensive plays'' in the real estate industry and is likely to benefit from the recent initial public offerings by developers, the analysts wrote.

Perdigao SA (PRGA3 BS) rose 16 centavos, or 0.5 percent, to 34.80 reais. Brascan Corretora analyst Felipe Cunha raised his rating on Brazil's second-biggest food processor to ``marketperform'' from ``underperform,'' according to an e-mailed report. Perdigao will likely benefit from the planned acquisition of Plusfood Groep BV from Rotterdam-based Cebeco Groep NV, which was announced yesterday, as Plusfood's European location will reduce export risks and its processed foods will improve Pergidao's product mix, Cunha wrote.

Petroleo Brasileiro SA (PETR4 BS), Brazil's state-controlled oil company, rose 52 centavos, or 1.1 percent, to 47.42 reais. Bolivia's government will meet a deadline to pay half of the $122 million purchase price for two oil refineries it's acquiring from Petroleo Brasileiro SA, state oil company YPF Bolivianos said yesterday. Petrobras threatened to cancel the sale if the payment wasn't made by June 11, Brazilian newspaper O Globo reported today, citing Jose Fernando de Freitas, head of Petrobras' Bolivian operations.

Tam SA (TAMM4 BS) rose 92 centavos, or 1.5 percent, to 62.12 reais. Brazil's civil aviation agency said in a statement on its Web site that Gol Linhas Aereas Inteligentes SA, which agreed to buy air carrier Varig on March 29, has until June 18 to resume operations of Varig's international flights, after which airlines such as Tam, Brazil's biggest airline by market share, may compete for the slots. Gol shares rose 4 centavos, or less than 0.1 percent, to 60.53 reais.

To contact the reporter on this story: Paulo Winterstein in Sao Paulo at at pwinterstein@bloomberg.net.

Last Updated: May 23, 2007 09:56 EDT