Brazilian Stock Movers: Aliansce, Brasil Insurance and Gafisa
The following companies are having unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of 12:25 p.m. local time. Preferred shares are usually the most-traded class of stock.
The Bovespa (IBOV) Index was little changed at 62,999.86.
Aliansce Shopping Centers SA (ALSC3) (ALSC3 BS) gained 0.5 percent to 17.76 reais, after earlier jumping 2.4 percent to 18.10 reais, the highest on a closing basis since February 2010. The company said sales in stores located in the malls it owns rose 15 percent to 1.2 billion reais ($635 million) in the first quarter.
Brasil Insurance Participacoes e Administracao SA (BRIN3 BS) added 1.8 percent to 20 reais. The Brazilian operator of insurance brokerages agreed to pay 13 million reais for a controlling stake in Kalassa Corretora de Seguros Ltda., according to a regulatory filing.
Gafisa SA (GFSA3) (GFSA3 BS) fell 1 percent to 4.05 reais. Moody’s Investors Service lowered Gafisa’s global credit rating to Ba3 from Ba2 with a negative outlook.
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