JBS, LLX Logistica, PortX, Suzano: Brazil Stock Movers

The following companies had unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of 3:40 p.m. New York time. Preferred shares are usually the most-traded class of stock.

The Bovespa stock index decreased 0.3 percent to 69,551.81.

JBS SA (JBSS3 BS), the world’s biggest beef producer, fell 1.6 percent to 6.62 reais. Brazil’s national development bank, BNDES, asked pulp maker Eldorado Brasil, which is controlled by the family that owns JBS, to merge with Florestal Brasil, a reforestation company, as a condition to receive a 3 billion- real ($1.8 billion) loan, O Estado de S. Paulo reported, without saying where it obtained the information.

LLX Logistica SA (LLXL3 BS) surged 4.6 percent to 4.80 reais, the biggest increase since Sept. 10. The decline this month in LLX’s stock price reflects excessive pessimism about the company’s ability to execute its projects, UBS AG analyst Victor Mizusaki said in a note to clients today. The logistics company fell 16 percent since the end of October through last week after saying it planned to spin off its Sudeste port project, which now trades as PortX Operacoes Portuarias SA.

PortX Operacoes Portuarias SA (PRTX3 BS) soared 6.4 percent to 4.15 reais. The iron-ore port in Rio de Janeiro started trading today after it was spun off LLX Logistica SA on Dec. 3.

Suzano Papel e Celulose SA (SUZB5 BS), Latin America’s second-biggest pulp exporter, lost 1.3 percent to 15.66 reais. BNDES Participacoes SA exercised its right to convert 212,878 Suzano bonds into shares of the same company, according to a regulatory filing.

Usinas Siderurgicas de Minas Gerais SA (USIM5 BS) climbed 3.6 percent to 19.45 reais. Brazil’s second-biggest steelmaker and Sumitomo Corp., controllers of the Mineracao Usiminas SA joint venture, may consider reducing their stakes in the miner, Valor Economico said, citing Usiminas Chief Executive Officer Wilson Brumer.

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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