Brazilian Stock Movers: Gol, Telesp, Localiza, Marfrig Alimentos
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 1.4 percent to 55,073.02.
Gol Linhas Aereas Inteligentes SA (GOLL4) (GOLL4 BS) climbed 2.5 percent to 10.54 reais. The airline said in a regulatory filing total demand rose 16.2 percent in July from the same period last year. Total occupancy reached 75.8 percent, according to the filing.
Localiza Rent a Car SA (RENT3) (RENT3 BS) fell 1 percent to 24.75 reais. Latin America’s biggest car-rental company will spend 2.7 billion reais ($1.7 billion) to buy 100,000 cars in the second half of this year and in 2012, according to a regulatory filing.
Marfrig Alimentos SA (MRFG3) (MRFG3 BS) advanced 2.9 percent to 9.10 reais. Latin America’s second-largest beef producer said in a regulatory filing GWI Asset Management no longer holds a “relevant” stake in the company. Chief Executive Officer Marcos Molina said in an interview on Aug. 15 the recent slump in the company’s stock was caused by GWI reducing its stake after a global market sell-off crushed its leveraged equity holdings.
Telecomunicacoes de Sao Paulo SA (TLPP3) (TLPP4 BS) gained 1.7 percent to 46.80 reais. Telefonica SA’s fixed-line Brazil unit known as Telesp advanced after Brazil’s Senate approved a law allowing telephone carriers and foreign companies to offer cable television.
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