Brazilian Stock Movers: CCX Carvao, CPFL Energia, Forjas Taurus
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 fell 1.8 percent to 52,481.44.
Forjas Taurus SA (FJTA4) (FJTA4 BS) fell 3.2 percent to 1.84 reais after reversing an earlier gain of as much as 2.6 percent. The Brazilian manufacturer of firearms said in a regulatory filing it received a proposal from Renill Participacoes Ltda. to buy a facility in Gravatai, Rio Grande do Sul, owned by a subsidiary, Taurus Maquinas-Ferramenta Ltda. The sale of the unit was planned in May 2011 as part of the reorganization of Forjas Taurus, which is scheduled to be completed by September.
CPFL Energia Renovaveis SA (CPFE3 BS) fell 2.2 percent to 24.13 reais. The Brazilian utility said in a regulatory filing its board approved listing shares in Novo Mercado, a segment of the stock exchange that mandates stricter requirements regarding disclosure.
CCX Carvao da Colombia SA (CCXC3 BS), the coal unit of Brazilian billionaire Eike Batista’s group, fell 0.4 percent to 5.38 reais, after earlier rallying as much as 9.3 percent. The company said it is applying for a license to build a port in Colombia. The development of the port in the city of Dibulla, La Guajira state, will allow storage and other activities to support CCX’s coal production exports, estimated at 35 million tons per year, the company said in a regulatory filing.
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