Brazilian Stock Movers: Arezzo, Brookfield, Cosan, Vale
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 index slumped 1.2 percent to 60,880.62.
Arezzo Industria & Comercio SA (ARZZ3 BS) fell 2 percent to 24.50 reais. The Brazilian footwear maker said it’s in talks to buy Santa Lolla, a retailer of shoes and women’s accessories, according to a regulatory filing. The company said it hasn’t reached any agreement with Santa Lolla yet.
Brookfield Incorporacoes SA (BISA3) (BISA3 BS) dropped 1.8 percent to 7.64 reais, erasing an earlier gain. Brazil’s fourth-largest real-estate company by revenue fell as traders boosted bets for higher borrowing costs.
Cosan SA Industria e Comercio (CSAN3) (CSAN3 BS) rose 1.7 percent to 24.10 reais. The Brazilian company that shares control of the world’s biggest sugar-cane processor followed sugar prices higher.
Vale SA (VALE3) (VALE5 BS) lost 1.1 percent to 42.78 reais. The world’s largest iron-ore producer fell as the Bloomberg Base Metals 3-Month Price Commodity Index slipped 0.5 percent.
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