Suzano Climbs Most in a Month After Smaller-Than-Forecast Loss

Suzano Papel & Celulose SA, Brazil’s second-biggest pulp producer, climbed the most in a month after reporting a smaller-than-forecast loss in the second quarter.

The shares rose 3.5 percent to 8.18 reais at 3:47 p.m. in Sao Paulo, the biggest gain since July 11. It was the best performer on the MSCI Brazil Materials Index, which lost 1.4 percent.

The second-quarter adjusted net loss was 247.5 million reais ($107.1 million), the Salvador, Bahia-based company said in a regulatory filing today. The average estimate of eight analysts surveyed by Bloomberg was a loss of 316.4 million reais.

“The results were better than expected with significant improvement in margins, beating our forecasts” Catarina Pedrosa, an analyst at BES Securities, wrote in a note to clients today.

To contact the reporter on this story: Julia Leite in New York at

To contact the editor responsible for this story: David Papadopoulos at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.