Brazilian Stock Movers: Gol, Itau Unibanco, QGEP Were Active

The following companies had unusual price changes in Sao Paulo trading. Stock symbols are in parentheses, and prices are as of as of the market close. Preferred shares are usually the most-traded class of stock.

The Bovespa (IBOV) Index fell 2 percent to 53,402.90.

Gol Linhas Aereas Inteligentes SA (GOLL4) (GOLL4 BS) rose 0.9 percent to 8.11 reais. Brazil’s second-biggest airline said in a statement today it is firing 190 crew members as part of plans to maintain the “sustainability” of the company.

Itau Unibanco Holding SA (ITUB4) (ITUB4 BS) fell 2.4 percent to 28.58 reais. Latin America’s biggest lender by market value was the worst performer among Brazilian banks on the Bovespa. It said in a regulatory filing yesterday after the market closed that it indirectly bought 49 percent of Banco CSF SA, or Carrefour Bank in Brazil. CSF is responsible for all financial services provided by Carrefour SA (CA) in the country.

QGEP Participacoes SA (QGEP3) (QGEP3 BS), which explores for and produces oil and gas, fell 16 percent to 8.29 reais, the lowest since February 2011, after saying it didn’t find oil in an exploration block in deep waters off the coast of Brazil. QGEP has a 30 percent stake in the block and Petroleo Brasileiro SA (PETR4), the state-controlled oil company, owns the rest. Petrobras declined 1.7 percent to 18.80 reais.

To contact the reporter on this story: Denyse Godoy in Sao Paulo at

To contact the editor responsible for this story: David Papadopoulos at

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