Brazilian Stock Movers: Autometal, JBS, Itau Unibanco and OGX
The following companies are having unusual price changes in Sao Paulo trading. Stock symbols are in parentheses, and prices are as of 12:04 a.m. local time. Preferred shares are usually the most-traded class of stock.
The Bovespa (IBOV) index dropped 0.3 percent to 61,783.25.
Autometal SA (AUTM3) (AUTM3 BS) slid 3.8 percent to 15.15 reais. The Brazilian unit of Spanish auto-parts maker Cie Automotive SA had first-quarter net income of 39.9 million reais ($21.2 million), a 24 percent drop from a year earlier, according to a regulatory filing.
JBS SA (JBSS3) (JBSS3 BS) gained 2.9 percent to 7.37 reais. The meatpacker said today in a regulatory filing that a reported case of mad cow disease in the U.S., where the company produces more than one-third of its beef, won’t affect its business.
Itau Unibanco Holding SA (ITUB4) (ITUB4 BS) sank 4.5 percent to 30.02 reais. Latin America’s biggest bank by market value expects to spend as much as 6.4 billion reais in bad-loan provisions in the second quarter, compared with 6 billion in the first quarter, according to a regulatory filing.
OGX Petroleo & Gas Participacoes SA (OGXP3 BS) added 2.2 percent to 13.30 reais. The oil company controlled by the billionaire Eike Batista said in a filing that its Waikiki field was declared commercially viable with 285 million barrels of estimated recoverable crude reserves.
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