Brazil Stock Movers: Brasil Foods, B2W and Petrobras Were Active

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 retreated 0.5 percent to 55,351.67.

Brasil Foods (BRFS3) SA (BRFS3 BS) rose 2.7 percent to 33.50 reais, the highest price since May 11. The world’s biggest poultry exporter was raised to the equivalent of buy from neutral at Raymond James. The company will transfer 65 percent of its Excelsior Alimentos SA (BAUH4) unit to Marfrig Alimentos SA (MRFG3) on July 2, according to a regulatory filing. The deal is the result of an exchange agreement between the companies that was already approved by Brazil’s antitrust regulator.

B2W Cia. Global do Varejo (BTOW3 BS) advanced 4.8 percent to 6.29 reais, the highest in almost a month. The online retailer said in a regulatory filing yesterday after the market closed that it sold 300 million reais ($146 million) in five- year local bonds to pay 120 percent of the DI rate.

Petroleo Brasileiro SA (PETR4) (PETR4 BS) fell 3.9 percent to 18.17 reais. Petrobras, as the state-controlled oil company is known, said it will raise investments by 5.3 percent for the 2012-2016 period to $236.5 billion, and cut its production target from 6.4 million barrels of oil and natural gas per day in 2020 to 5.7 million barrels per day.

To contact the reporter on this story: Denyse Godoy in Sao Paulo at dgodoy2@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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