Oct. 13 (Bloomberg) -- The following companies are having unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of the end of trading. Preferred shares are usually the most-traded class of stock.
The Bovespa Index gained 1.4 percent to 54,601.07.
Speculation that Brazilian policy makers will cut the country’s benchmark interest rate next week fueled gains among companies that depend on domestic demand.
Gafisa SA (GFSA3 BS), Brazil’s third-largest homebuilder by revenue, surged the most since August 2009, rising 9 percent to 5.84 reais. Hypermarcas SA (HYPE3 BS), the Brazilian consumer-products company, advanced 2.5 percent to 8.60 reais, its highest price in two weeks.
Cyrela Brazil Realty SA Empreendimentos e Participacoes (CYRE3 BS), Brazil’s second-biggest homebuilder by revenue, rose 4.8 percent to 13.20 reais after it said in a regulatory filing that contracted sales rose 41 percent in the third quarter from a year earlier to 1.45 billion reais.
Localiza Rent a Car SA (RENT3 BS), Latin America’s biggest car-rental company, declined 2.1 percent to 25.61 reais. Victor Mizusaki, an analyst with UBS AG, said the company’s third-quarter net income of 75.3 million reais trailed his forecast and the outlook for profit is being curbed by an economic slowdown in Brazil.
MMX Mineracao & Metalicos SA (MMXM3 BS), the iron-ore miner controlled by Brazilian billionaire Eike Batista, declined 0.1 percent to 7.11 reais as Brazilian Finance Minister Guido Mantega said there are “signals” of slower demand from China, including smaller orders of metals.
Tim Participacoes SA (TIMP3 BS), Brazil’s second-largest wireless carrier, snapped a six days of losses after it was initiated at “overweight” in new coverage at Barclays Plc. Shares rose 4.6 percent to 8.58 reais.
To contact the reporter on this story: Leon Lazaroff in New York email@example.com
To contact the editor responsible for this story: David Papadopoulos in New York at firstname.lastname@example.org