Brazilian Stock Movers: Cosan, Gafisa and Usiminas 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 rose 0.5 percent to 56,076.82.
Cosan SA Industria e Comercio (CSAN3) (CSAN3 BS) advanced 1.2 percent to 31.20 reais. The renewable energy and infrastructure company said in a regulatory filing yesterday it concluded the acquisition of Comma Oil & Chemicals Ltd. from Exxon Mobil Corp. as part of its strategy to enter the European market for automotive lubricants.
Gafisa SA (GFSA3) (GFSA3 BZ) fell 3 percent to 2.57 reais. Brazil’s sixth-biggest homebuilder by sales said Alphaville Urbanismo SA shareholders are seeking arbitration to settle a dispute over the acquisition of a stake Gafisa doesn’t already own.
Usinas Siderurgicas de Minas Gerais SA (USIM5 BZ) rose 3.3 percent to 6.99 reais. Usiminas, as the steelmaker is known, rose for a second day after Reuters, citing two people familiar with the matter whom it didn’t identify, reported yesterday that it is raising prices for most products by 5 to 7 percent. A Usiminas press officer declined to comment when contacted by Bloomberg News yesterday.
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