Brazilian Stock Movers: Hypermarcas, Laep, Lupatech, PDG, Vale

The following companies had unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of the close. Preferred shares are usually the most-traded class of stock.

The Bovespa index fell 0.7 percent to 54,894.49.

Hypermarcas SA (HYPE3 BS) gained 3.3 percent to 8.04 reais and is up 7.5 percent in the past two sessions. The consumer-goods maker’s weight in the gauge will likely rise to 1.6 percent in January from 0.9 percent now, Carlos Sequeira, an analyst at Banco BTG Pactual SA, wrote in a note to clients yesterday. An official at exchange operator BM&FBovespa SA, who asked not to be named due to internal policy, said a preview is set to be released early next month and declined to comment on possible changes.

Laep Investments Ltd. (MILK11 BS) gained 4.3 percent to 49 centavos. The private-equity fund said Brazil’s tax appeal board agreed to write off a fine of about 1.6 billion reais ($846 million) issued to Parmalat Brasil Industria de Alimentos SA related to the fiscal year 2000, according to a regulatory filing sent late yesterday. The remaining fine of about 10 million reais is still subject to confirmation, said Laep, which controls Parmalat.

Lupatech SA (LUPA3 BS) jumped 12 percent to 3.88 reais, rebounding from a five-day plunge of 50 percent on concern a debt default is imminent. The oil equipment and service provider’s third-largest shareholder, the state development bank known as BNDES, said in a statement today it’s seeking “market alternatives” to strengthen the company’s finances.

PDG Realty SA Empreendimentos & Participacoes (PDGR3 BS) gained 1.7 percent to 6.52 reais. Brazil’s biggest homebuilder by revenue said its board approved a buyback of as many as 56.2 million shares, according to a regulatory filing yesterday.

Vale SA (VALE5 BS), the world’s largest iron-ore producer, fell 2.1 percent to 39 reais as the Bloomberg Base Metals 3-Month Price Commodity Index lost 0.3 percent. The Brazilian states of Para and Minas Gerais plan to introduce taxes on mining, Valor Economico reported, citing Para Deputy Governor Helenilson Pontes and Minas Gerais Deputy Savio Souza Cruz. Separately, options traders are paying near record prices for protection on Vale after China cut imports, according to implied volatility data compiled by Bloomberg.

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