Brazilian Stock Movers: BRF Brasil Foods, Gol, Magazine Luiza
The following companies are having unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of 9:41 a.m. New York time. Preferred shares are usually the most-traded class of stock.
The Bovespa Index rose 0.3 percent to 62,853.08.
BRF Brasil Foods SA (BRFS3 BS) gained 0.4 percent to 25.36 reais. The world’s biggest poultry exporter may propose selling at least 15 percent of its production capacity as it seeks approval from Brazilian regulators for the purchase of rival Sadia SA two years ago, Folha de S.Paulo reported, without saying where it obtained the information.
Gol Linhas Aereas Inteligentes SA (GOLL4) (GOLL4 BS) rose 0.5 percent to 18.95 reais. The airline said demand for its flights in Brazil increased 12.3 percent in May from a year earlier, while international demand increased 16.7 percent. Gol’s total occupancy rate rose to 62.9 percent last month from 57.9 percent a year earlier, according to a regulatory filing.
Magazine Luiza SA (MGLU3 BS) climbed 1.9 percent to 17.48 reais. The Brazilian electronics and furniture retailer said in a regulatory filing it agreed to buy 121 stores of Grupo Silvio Santos’ Bau da Felicidade for 83 million reais ($52 million).
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