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 rose 0.3 percent to 53,920.36.
BM&FBovespa SA (BVMF3 BS), the operator of Latin America’s biggest securities exchange, fell 1.6 percent to 9.55 reais, after earlier rising as much as 3.5 percent. Folha de S. Paulo reported the government may temporarily eliminate a tax on foreign-exchange derivatives. The publication didn’t say where it got the information.
Brazil’s Finance Minister Guido Mantega said the government has no plans to lower financial transaction taxes after the real weakened 12 percent this month.
Mantega, speaking to reporters in Brasilia, said he doesn’t see an imminent risk of Greece defaulting on its debt.
Brazil raised the so-called IOF tax on capital inflows in October and later levied a tax on currency derivatives in a bid to stem a 47 percent rally in the real since the end of 2008 through August.
MMX Mineracao & Metalicos SA (MMXM3 BS), the iron-ore miner controlled by Brazilian billionaire Eike Batista, rose 1.5 percent to 7.49 reais as commodity prices advanced on speculation European leaders will move to avoid a worsening of the region’s debt crisis and a Goldman Sachs Group Inc. forecast for an acceleration of Chinese iron-ore demand in the fourth quarter.
Vale SA (VALE5 BS), the world’s biggest iron-ore producer, increased 0.8 percent to 40.82 reais, as the company proposed boosting its dividend for 2011 by $1 billion. Vale aims to pay a total of $9 billion in dividends this year, its most ever and three times last year’s $3 billion.