Brazilian Stock Movers: Brookfield, Marfrig, Natura, Tim
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 fell 1.3 percent to 56,378.63.
Brookfield Incorporacoes SA (BISA3) (BISA3 BS) dropped 7.2 percent to 6.04 reais. Brazil’s fifth-largest real estate company by revenue led homebuilders lower after a report showed that consumer prices jumped more than economists expected this month, spurring traders to pare bets for further interest-rate cuts.
Marfrig Alimentos SA (MRFG3) (MRFG3 BS) slipped 6.8 percent to 7.18 reais. Latin America’s second-largest beef producer is focused on cost-savings after agreeing earlier this week to divest its U.S. and European distribution unit, Chief Executive Officer Marcos Antonio Molina Dos Santos told investors today on a conference call. The company is in the process of selling one more non-core asset at this time, he said.
Natura Cosmeticos SA (NATU3) (NATU3 BS) dropped 6 percent to 32.30 reais, the biggest decline since November 2008. Latin America’s largest cosmetics maker was cut to “sell” from “neutral” at Goldman Sachs Group Inc.
Tim Participacoes SA (TCSL4) (TIMP3 BS) advanced 1.2 percent to 9.32 reais. Brazil’s second-largest wireless carrier by subscribers saw its mobile-phone market share rise to 25.99 percent in August from 25.78 percent the previous month, according to telecommunications agency Anatel in Brasilia.
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