The Bovespa (IBOV) Index rose 3.8 percent to 56,590.24.
Redecard SA (RDCD3) (RDCD3 BS), Brazil’s No. 2 card-payment processor, gained 1.8 percent to 30.60 reais, reversing an earlier decline of as much as 2.3 percent. Shareholders voted to get another appraisal of Itau Unibanco Holding SA (ITUB4)’s offer to buy the remaining stock it doesn’t own for 35 reais a share. Credit Suisse Group AG (CSGN) has 30 days to prepare the second appraisal, according to the regulatory filing.
Gerdau SA (GGBR4) (GGBR4 BS), Latin America’s largest steelmaker, rallied 7.9 percent, the most in nine months, to 16.80 reais. Ronald Seckelmann, the company’s vice president of finance, said at an event in Rio de Janeiro today that Gerdau isn’t interested in buying ThyssenKrupp AG’s stake in Brazilian steelmaker Cia. Siderurgica do Atlantico.
Cia. Siderurgica Nacional (CSNA3) SA (CSNA3 BS), Brazil’s third- largest steelmaker, rose 5.9 percent to 13.91 reais after David Salama, the company’s head of investor relations, said at an event in Rio de Janeiro today that demand may increase 5 percent to 6 percent this year.
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