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Brazilian Stock Movers: Fibria, Laep Investments, Rossi, Tam

April 25 (Bloomberg) -- The following companies had unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of 4:15 p.m. New York time. Preferred shares are usually the most-traded class of stock.

The Bovespa Index fell 0.1 percent to 66,972.37.

Fibria Celulose SA (FIBR3 BS), the world’s largest pulp producer, rose 2.5 percent to 24.88 reais. Global pulp inventories fell to 32 days of supply in March, down from 35 the previous month and lower than the historical average of 33 days, Bank of America Corp. said in an investor note, citing figures from the Pulp and Paper Products Council.

Laep Investments Ltd. (MILK11 BS), the private-equity fund that controls Parmalat Brasil SA, declined 6.9 percent to 27 centavos after it said its board approved a 10-for-1 reverse share split, according to an April 20 regulatory filing. Laep shares have tumbled 34 percent since the end of March.

Rossi Residencial SA (RSID3 BS), Brazil’s sixth-largest homebuilder, fell 2.1 percent to 14.74 reais as the central bank raised its benchmark interest rate less than forecast by a majority of analysts survey by Bloomberg, signaling that the bank may not be finished with tightening credit.

Tam SA (TAMM4 BS) advanced 2.2 percent to 31.98 reais. The airline is “tracking” the possible sale of Tap SGPS SA, Portugal’s state-owned airline, O Globo newspaper reported, citing an interview with Tam Chief Executive Officer Marco Antonio Bologna.

To contact the reporter on this story: Leon Lazaroff in New York

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

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