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Brazilian Stock Movers: Banco do Brasil, LLX Logistica, Tim

Dec. 5 (Bloomberg) -- 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 rose 1.8 percent to 58,910.48.

Banco do Brasil SA (BBAS3 BS), a state-controlled lender, dropped 2.9 percent to 24.17 reais. Latin America’s biggest bank by assets may issue new shares as part of plans by the government to boost capital at state-owned financial institutions so they can meet cash requirements and continue making loans, O Globo newspaper reported, citing Brazilian officials it didn’t name.

LLX Logistica SA (LLXL3 BS) jumped 10 percent to 3.61 reais. The port developer controlled by billionaire Eike Batista signed a leasing contract with Intermoor do Brasil Servicos Offshore de Instalacao Ltda, part of Grupo Acteon, according to a regulatory filing. Intermoor will build a unit in the Superporto do Acu to support the oil and gas industries, LLX said. The contract will generate annual revenue of about 3.6 million reais.

Tim Participacoes SA (TIMP3 BS) gained 2.7 percent to 8.84 reais. The Brazilian unit of Italy’s largest phone company was rated “buy” in new coverage at Standpoint Research. Separately, Tim said it plans to invest 7.5 billion reais in infrastructure in Brazil from 2011 to 2013 to double its fiber optic network.

To contact the reporter on this story: Alexander Cuadros in Sao Paulo at

To contact the editor responsible for this story: David Papadopoulos at

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