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Brazilian Stock Movers: Banco do Brasil, LLX Logistica, Tim

The following companies are having unusual (IBOV) price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of 11:50 a.m. local time. Preferred shares are usually the most-traded class of stock.

The Bovespa index rose 1.3 percent to 58,635.48.

Banco do Brasil SA (BBAS3 BS), a state-controlled lender, dropped 2.3 percent to 24.30 reais. Brazil’s government may boost the capital of state banks by as much as 40 billion reais ($22 billion) so they can continue to offer credit, O Globo reported, citing unidentified officials in the government’s economic team. The government may inject cash through share sales, the newspaper said.

LLX Logistica SA (LLXL3 BS) advanced 3 percent to 3.38 reais. The port developer controlled by billionaire Eike Batista signed a leasing contract with Intermoor do Brasil Servicos Offshore de Instalacao Ltda, part of Grupo Acteon, according to a regulatory filing. Intermoor will build a unit in the Superporto do Acu to support the oil and gas industries, LLX said. The contract will generate annual revenue of about 3.6 million reais.

Tim Participacoes SA (TIMP3 BS) gained 3 percent to 8.87 reais. The Brazilian unit of Italy’s largest phone company was rated “buy” in new coverage at Standpoint Research. Separately, Tim said it plans to invest 7.5 billion reais in infrastructure in Brazil from 2011 to 2013 to double its fiber optic network.

To contact the reporter on this story: Alexander Cuadros in Sao Paulo at acuadros@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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