Brazilian Stock Movers: B2W, Odontoprev, Pao de Acucar, 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 rose 0.3 percent to 52,949.22.
B2W Cia. Global do Varejo (BTOW3 BS) tumbled 2.7 percent to 12.95 reais. Brazil’s largest online retailer posted a net loss of 20.9 million reais ($13.2 million) in the second quarter, compared with net income of 17.9 million reais a year earlier, according to a statement on the company’s website.
Cia. Brasileira de Distribuicao Grupo Pao de Acucar (PCAR4 BS) gained 0.3 percent to 60.70 reais after earlier rising as much as 2.5 percent. The retailer’s relationship with its French partner Casino Guichard-Perrachon SA is “not a risk”, Chief Executive Officer Eneas Pestana told reporters today in Sao Paulo. Casino last month opposed a proposal supported by Pao de Acucar’s Chairman Abilio Diniz to merge the retailer with Carrefour SA’s Brazilian assets.
Odontoprev SA (ODPV3) (ODPV3 BS) gained 2.2 percent to 26.38 reais. Brazil’s largest provider of dental-care plans reported second-quarter net income of 34.8 million reais, a 65 percent increase from a year earlier, according to a regulatory filing.
Vale SA (VALE3) (VALE5 BS) dropped 2.5 percent to 40.23 reais. The world’s largest iron-ore producer followed metal prices lower. Copper posted its biggest weekly slump since June 2010 on concern that the faltering global economy will curb demand for industrial metals.
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