The following companies had unusual (IBOV) price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of the close of trading. Preferred shares are usually the most-traded class of stock.
The Bovespa (IBOV) index lost 1.4 percent to 58,546.08.
Redecard SA (RDCD3) (RDCD3 BS), Brazil’s second-biggest card- payment processor, sank 1.8 percent to 28.95 reais, the biggest decline in a month. Credit Suisse cut the shares to “neutral,” citing slower growth and increasing competition for payment processors. The analysts also lowered competitor Cielo SA (CIEL3) (CIEL3 BS) to “neutral.” Cielo fell 1.4 percent to 48 reais.
Mining companies fell as heavy rains may disrupt operations in southeastern Brazil. MMX Mineracao & Metalicos SA (MMXM3) (MMXM3 BS) lost 2.6 percent to 6.80 reais. Vale SA (VALE5) (VALE5 BS) slid 2.5 percent to 39.76 reais and Cia. Siderurgica Nacional SA (CSNA3) (CSNA3 BS) slumped 0.8 percent to 15.87 reais.
Tecnisa SA (TCSA3) (TCSA3 BS) dropped 2.4 percent to 10 reais. The homebuilder said contracted sales fell 46 percent in December and it didn’t meet a target for new projects last year.
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