Preferred shares are usually the most-traded class of stock. The Bovespa (IBOV) Index gained 1.4 percent to 56,104.69.
Usinas Siderurgicas de Minas Gerais SA (USIM5 BS), the second-largest Brazilian steelmaker by output, fell 4.2 percent to 7.45 reais, the lowest price since 2004. Usiminas, as the company is known, was cut to sell at Deutsche Bank AG on “deteriorating earnings and increasing likelihood of a capital increase,” analysts Rodrigo Barros and Leandro Cappa wrote in a note to clients dated today.
OSX Brasil SA (OSXB3) (OSXB3 BS) climbed 5.4 percent to 13.10 reais, the biggest one-day gain since Feb. 13. The board of the equipment and services provider for the oil and gas industry, part of the billionaire Eike Batista’s group, approved a 1.35 billion-real ($662 million) loan from Caixa Economica Federal on behalf of its OSX Construcao Naval SA subsidiary, according to a regulatory filing yesterday after the market closed.
Cia. Brasileira de Distribuicao Grupo Pao de Acucar (PCAR4 BS) fell 2.9 percent to 75.48 reais. Brazil’s biggest retailer said in a regulatory filing after the market closed yesterday that Morzan Empreendimentos e Participacoes Ltda. requested an arbitration procedure related to the acquisition of 70 percent of a unit, Globex Utilidades SA, in 2009.
Marfrig Alimentos SA (MRFG3) (MRFG3 BS) fell 0.5 percent to 9.65 reais, after declining as much as 4.9 percent earlier. Latin America’s second-largest beef producer said in a regulatory statement after the market closed yesterday that it will offer to buy the remaining common shares of Excelsior Alimentos SA. (BAUH4)
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