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Brazilian Stock Movers: Redecard, Gerdau and CSN Were Active

May 21 (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 3.8 percent to 56,590.24.

Redecard SA (RDCD3 BS), Brazil’s No. 2 card-payment processor, gained 1.8 percent to 30.60 reais, reversing an earlier decline of as much as 2.3 percent. Shareholders voted to get another appraisal of Itau Unibanco Holding SA’s offer to buy the remaining stock it doesn’t own for 35 reais a share. Credit Suisse Group AG has 30 days to prepare the second appraisal, according to the regulatory filing.

Gerdau SA (GGBR4 BS), Latin America’s largest steelmaker, rallied 7.9 percent, the most in nine months, to 16.80 reais. Ronald Seckelmann, the company’s vice president of finance, said at an event in Rio de Janeiro today that Gerdau isn’t interested in buying ThyssenKrupp AG’s stake in Brazilian steelmaker Cia. Siderurgica do Atlantico.

Cia. Siderurgica Nacional SA (CSNA3 BS), Brazil’s third-largest steelmaker, rose 5.9 percent to 13.91 reais after David Salama, the company’s head of investor relations, said at an event in Rio de Janeiro today that demand may increase 5 percent to 6 percent this year.

To contact the reporter on this story: Denyse Godoy in Sao Paulo at dgodoy2@bloomberg.net

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

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