Brazilian Stock Movers: Camargo Correa, Gafisa, LLX, PDG Realty
The following companies had unusual price changes in Sao Paulo trading. Stock symbols are in parentheses, and prices are as of the market close. Preferred shares are usually the most-traded class of stock.
The Bovespa (IBOV) Index was little changed at 53,416.75.
Gafisa SA (GFSA3) (GFSA3 BS) fell 5.4 percent to 2.27 reais. The newspaper Valor Economico reported today the homebuilder is having trouble raising cash to complete the acquisition of its Alphaville unit and is considering spinning it off and listing the shares separately. Gafisa’s press office declined to comment on the report when contacted by Bloomberg News.
Camargo Correa Desenvolvimento Imobiliario SA (CCIM3) (CCIM3 BS) gained 9 percent to 4.95 reais, the most since January 2010. The real estate development company said in a regulatory filing on June 1 that Banco Santander Brasil SA evaluated the fair value of its shares in a range of 5.43 reais to 5.97 reais.
PDG Realty SA Empreendimentos e Participacoes (PDGR3 BS) rose 1.8 percent to 3.33 reais. Brazil’s biggest homebuilder said in a regulatory filing today its board approved a capital injection of 800 million reais ($389 million) from shareholder Vinci Partners Investimentos Ltda.
LLX Logistica SA (LLXL3) (LLXL3 BS) fell 0.9 percent to 2.15 reais after erasing an earlier gain of as much as 2.3 percent. The logistics unit of Brazilian billionaire Eike Batista’s group denied in an emailed statement June 1 a report that work had been halted at its Acu port in Rio de Janeiro state. The company also said it plans to invest 848 million reais at Acu this year and construction is progressing normally.
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