Brazilian Stock Movers: Amil, BR Malls Advance; Vale Declines

The following companies had unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of 4:15 p.m. New York time. Preferred shares are usually the most-traded class of stock.

The Bovespa (IBOV) Index fell 1.7 percent to 63,775.82.

Amil Participacoes SA (AMIL3) (AMIL3 BS) jumped 5.2 percent to 19.50 reais, the most since October 13. The Brazilian health insurer reported first-quarter adjusted net income of 89 million reais ($55 million), a 10 percent increase from a year earlier.

BR Malls Participacoes SA (BRML3) (BRML3 BS) advanced 2.6 percent to 17.65 reais. Brazil’s biggest owner of shopping malls yesterday sold 37.4 million shares at 17.20 reais each to raise 643.3 million reais, according to a regulatory filing. An additional 5.1 million shares may be sold in the next month to meet excess demand, the filing said.

MMX Mineracao & Metalicos SA (MMXM3 BS) climbed 0.6 percent to 9.15 reais after earlier advancing 2.4 percent. The iron-ore producer controlled by Brazilian billionaire Eike Batista said in a filing first-quarter net income was 63.8 million reais ($39.8 million), which compares with a loss of 76.1 million reais a year earlier. The company was expected to post a profit of 55.4 million reais on an adjusted basis, the median of three estimates on a Bloomberg survey.

Vale SA (VALE5 BS) dropped 3 percent to 43.17 reais. The world’s largest iron-ore producer fell after a report showed China’s inflation held above 5 percent in April, signaling that further monetary tightening may be needed to cool the nation’s economy. China is Vale’s top export market.

To contact the reporter on this story: Ney Hayashi in Sao Paulo at ncruz4@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos in New York at papadopoulous@bloomberg.net

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