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Brazilian Stock Movers: MMX Mineracao, Multiplus and Usiminas

Nov. 8 (Bloomberg) -- 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 slid 0.3 percent to 59,026.13.

MMX Mineracao & Metalicos SA (MMXM3 BS) fell 3.8 percent to 7.17 reais. The iron-ore producer controlled by billionaire Eike Batista posted a third-quarter net loss of 243.2 million reais ($140.4 million) after a weaker Brazilian real increased costs of dollar-denominated debt.

Multiplus SA (MPLU3 BS) gained 1.3 percent to 29.70 reais, the highest since June 9. The frequent-flyer unit of Brazilian airline Tam SA said it signed an agreement with Groupe Aeroplan Inc. to create a marketing company in Brazil, according to a regulatory filing. Multiplus and Groupe Aeroplan will each own 50 percent of the new company. They will each invest less than $25 million over three years.

Usinas Siderurgicas de Minas Gerais SA (USIM3 BS) voting shares dropped 0.1 percent to 23.29 reais after earlier sinking as much as 2.4 percent. Brazil’s second-biggest steelmaker, known as Usiminas, said third-quarter net income plunged 80 percent to 103 million reais as production declined.

To contact the reporter on this story: Alexander Cuadros in Sao Paulo at acuadros@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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