The following companies had unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of the close of trading. Preferred shares are usually the most-traded class of stock.
The Bovespa Index dropped 2 percent to 58,338.39.
BR Malls Participacoes SA (BRML3 BS) climbed 0.3 percent to 18.55 reais. Brazil’s biggest owner of shopping malls said third-quarter net revenue rose 67 percent from a year earlier to 219.3 million reais ($129.8 million), according to an Oct. 28 statement.
Lojas Renner SA (LREN3 BS) fell 1.4 percent to 52.06 reais. Brazil’s biggest publicly traded clothing retailer was cut to “equal-weight” from “overweight” at Morgan Stanley.
Marfrig Alimentos SA (MRFG3 BS) slumped 4.5 percent to 7.45 reais. Latin America’s second-largest beef producer may have its debt ranking cut by Moody’s Investors Service if it fails to recover its operating margins, Moody’s said in a statement yesterday.
Vale SA (VALE5 BS) tumbled 2.1 percent to 40.80 reais. China, the world’s biggest iron ore buyer, has held talks with miners Vale, Rio Tinto Group and BHP Billiton Ltd. to set up a new pricing mechanism after a plunge in cash market prices, Zhang Changfu, vice chairman and secretary general of the China Iron and Steel Association, told reporters today in Beijing.