Brazilian Stock Movers: Bradesco, Fibria Celulose, Gafisa, Vale
The following companies had unusual 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 added 0.5 percent to 63,072.31.
Banco Bradesco SA (BBDC4) (BBDC4 BS) tumbled 3.1 percent to 31.40 reais. Brazil’s second-biggest bank by market value said its adjusted net income, which excludes one-time items, rose 3.2 percent to 2.77 billion reais ($1.59 billion) in the fourth quarter from a year earlier. That missed the 2.88 billion real average estimate of eight analysts surveyed by Bloomberg.
Fibria Celulose SA (FIBR3) (FIBR3 BS) dropped 3.3 percent to 14.25 reais. The world’s largest pulp producer named Guilherme Perboyre Cavalcanti to replace Joao Adalberto Elek as chief financial officer, according to a regulatory filing yesterday.
Gafisa SA (GFSA3) (GFSA3 BS) jumped 6 percent to 4.77 reais. Brazil’s third-biggest homebuilder by revenue will be sold to U.S. investors who plan to buy the company’s outstanding shares, newsletter Relatorio Reservado reported today citing one unidentified person who works at Gafisa. An official at an external press relations firm representing Gafisa, who asked not to be identified in accordance with company policy, said the homebuilder doesn’t comment on market rumors.
Vale SA (VALE5) (VALE5 BS) gained 2.5 percent to 42.69 reais. The world’s largest iron-ore producer followed metals prices higher. Separately, the company said in a regulatory filing it obtained an injunction blocking a court decision related to unpaid taxes on profits at its overseas units.
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