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Banco do Brasil, Bradesco, Eletrobras, Itau: Brazilian Stocks

The following companies had unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of 4:18 p.m. New York time. Preferred shares are usually the most-traded class of stock.

The Bovespa stock index increased 0.3 percent to 69,766.09 and rose 2.3 percent for the week.

Lenders fell after Brazil’s central bank raised reserve requirements on cash and time deposits to slow consumer lending that’s growing 20 percent annually and prevent a credit bubble.

Banco do Brasil SA (BBAS3 BS), Latin America’s largest bank by assets, fell 2.7 percent to 32.60 reais.

Banco Bradesco SA (BBDC4 BS), the second-biggest bank by market value, dropped 2 percent to 33.95 reais.

Banco Santander Brasil SA (SANB11 BS), the Brazilian unit of Spain’s biggest bank, lost 3.3 percent to 22.58 reais.

Brazilian utilities stocks rallied on speculation President-elect Dilma Rousseff will maintain government policies in the industry and have former Energy Minister Edison Lobao to return to his post.

Cia. Energetica de Minas Gerais (CMIG4 BS), the state- controlled electricity utility known as Cemig, surged 3.1 percent to 29.60 reais in Sao Paulo trading.

Centrais Eletricas Brasileiras SA (ELET3 BS), or Eletrobras, Latin America’s largest utility, climbed 3.4 percent to 23.75 reais.

Itau Unibanco Holding SA (ITUB4 BS) fell 1.6 percent to 39.53 reais. Brazil’s largest bank by market value raised $7.1 billion in credit lines from the U.S. Federal Reserve from 2008 to 2010 to stimulate lending in Brazil during the financial crisis, Sao Paulo-based newspaper Valor Economico reported, citing a U.S. Congress report released yesterday.

MMX Mineracao & Metalicos SA (MMXM3 BS) gained 1.5 percent to 12.69 reais. The companies controlled by Brazilian billionaire Eike Batista -- MMX, LLX Logistica SA and Portx Operacoes Portuarias SA -- bought land in Rio de Janeiro state to allow them to potentially double iron-ore shipping capacity at a port.

Randon SA Implementos e Participacoes (RAPT4 BS), the Brazilian auto-parts maker, tumbled 1.5 percent to 13.21 reais. Brazil’s treasury will end a subsidy on interest rates charged by the state development bank, BNDES, on purchases of equipment and machinery, Valor Economico reported, citing Finance Minister Guido Mantega.

To contact the reporter on this story: Camila Russo in New York at crusso15@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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