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 1 percent to 65,462.75.
Anhanguera Educacional Participacoes SA (AEDU3 BS) rose 3.7 percent to 36.30 reais. Brazil’s largest education company by market value bought Guarulhos-based Faculdades Integradas Torricelli for 39 million reais ($24.6 million), according to an April 29 regulatory filing. The purchase “strengthens Anhanguera’s position in this fast-growing market,” Alexandre Pizano, a Sao Paulo-based analyst at Bank of America Corp., wrote in a note to clients.
BR Malls Participacoes SA (BRML3 BS), Brazil’s biggest owner of shopping malls, jumped 5.2 percent to 17.25 reais. Net revenue surged 68 percent to 179.1 million reais in the first quarter from a year earlier, according to an April 29 statement on the company’s website. That’s higher than the average estimate of 159.4 million reais in a Bloomberg survey of nine analysts. Net income increased 36 percent to 57.2 million reais.
Cielo SA (CIEL3 BS) gained 2.3 percent to 12.40 reais while Redecard SA (RDCD3 BS) rose 2.3 percent to 23.28 reais. Concern is diminishing that tighter competition will hurt profitability for Brazil’s biggest card-payment processors, said Daniel Malheiros, an analyst at Sao Paulo-based brokerage Spinelli Corretora.
Magazine Luiza SA (MGLU3 BS) rose 2.8 percent to 16.45 reais. The Brazilian electronics and furniture retailer debuted on the Sao Paulo exchange today after its initial public offering last week.