Brazil Stock Movers: Braskem, Hypermarcas, Petrobras, Usiminas
The following companies are having unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of 11:07 a.m. New York time. Preferred shares are usually the most-traded class of stock.
The Bovespa Index rose 0.8 percent to 52,843.04.
Braskem SA (BRKM5) (BRKM5 BS), Latin America’s largest petrochemicals producer, advanced for the first day in three, rising 1.3 percent to 17.08 reais on speculation the U.S. Federal Reserve may act to stimulate the country’s economy. Braskem owns production plants in the U.S.
Hypermarcas SA (HYPE3) (HYPE3 BS), the Brazilian consumer-products company that made 12 acquisitions since the start of 2010, gained 2.1 percent to 12.10 reais as a central bank survey of 100 economists forecast that consumer prices will rise 5.20 percent next year, down from a forecast of 5.23 percent the previous week.
Petroleo Brasileiro SA (PETR4) (PETR4 BS), Brazil’s state- controlled oil company, rose 1.1 percent to 19.91 reais as crude for September delivery advanced 1.1 percent, its first gain in three sessions, to $83.18 a barrel on the New York Mercantile Exchange.
Usinas Siderurgicas de Minas Gerais SA (USIM5) (USIM5 BS), Brazil’s second-largest steelmaker, gained 4.3 percent to 12.79 reais after Cia. Siderurgica Nacional SA (CSNA3 BS), Brazil’s third-largest steelmaker, said in a regulatory filing that it had increased its stake in Usiminas to 15.15 percent of its preferred shares and 11.29 percent of the company’s common shares.
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