Bradesco, CPFL Energia, Lupatech, Usiminas: Brazilian Stocks
The following companies had unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of 3:30 p.m. New York time. Preferred shares are usually the most-traded class of stock.
The Bovespa stock index increased 2.4 percent to 69,345.85.
JPMorgan Chase & Co. and Credit Suisse Group AG said banks may benefit as Brazil’s central bank starts raising interest rates.
Banco Bradesco SA, Brazil’s second-biggest bank by market value, gained 2.2 percent to 34.31 reais.
Banco Santander Brasil SA (SANB11 BS), Spain’s biggest bank, jumped 4.5 percent to 23.14 reais.
CPFL Energia SA (CPFE3 BS) rose 1.8 percent to 40.40 reais. Brazil’s largest private-sector power distributor approved the issue of 280 million reais ($164.2 million) in bonds redeemable in December 2013, according to a regulatory filing.
Lupatech SA (LUPA3 BS) surged 5.8 percent to 20.10 reais. Brazil’s biggest provider of oil equipment and services entered into an agreement with Petroleo Brasileiro SA to provide technical services to the state-run oil company worth 112.2 million reais over five years, according to a regulatory filing. The contract is renewable for a further five years and begins in April 2011.
Usinas Siderurgicas de Minas Gerais SA (USIM5 BS) climbed 1.4 percent to 18.96 reais after falling for four days. Brazil’s second-biggest steelmaker gained after new vehicle sales in Brazil rose 30 percent in November from a year earlier to 328,418 units, the country’s car dealership federation, known as Fenabrave, said today.
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