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Brazil Stock Movers: Localiza, MMX Mineracao, Petrobras, Tim

The following companies are having unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of 1:56 p.m. local time. Preferred shares are usually the most-traded class of stock.

The Bovespa Index fell 0.3 percent to 53,662.45.

Localiza Rent a Car SA (RENT3) (RENT3 BS), Latin America’s biggest car-rental company, declined 2.7 percent to 25.45 reais. Victor Mizusaki, an analyst with UBS AG, said the company’s third- quarter net income of 75.3 million reais ($43.1 million) trailed his forecast and the outlook for profit is being curbed by an economic slowdown in Brazil.

Brazilian Finance Minister Guido Mantega said there are “signals” of slower demand from China, including smaller orders of metals.

MMX Mineracao & Metalicos SA (MMXM3 BS), the iron-ore miner controlled by Brazilian billionaire Eike Batista, declined 1.8 percent to 6.99 reais.

Vale SA (VALE3) (VALE5 BS), the world’s biggest iron-ore producer, dropped 0.5 percent to 40.02 reais, and Petroleo Brasileiro SA (PETR4) (PETR4 BS), Brazil’s state-controlled oil company, lost 0.4 percent to 19.09 reais.

Tim Participacoes SA (TCSL4) (TIMP3 BS), Brazil’s second-largest wireless carrier, snapped a six-day loss after it was initiated at “overweight” in new coverage at Barclays Plc. Shares rose 2.3 percent to 8.39 reais.

To contact the reporter on this story: Leon Lazaroff in New York

To contact the editor responsible for this story: David Papadopoulos in New York at

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