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Brazilian Stock Movers: BR Properties, Locamerica, Redecard

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

The Bovespa Index rose 0.2 percent to 56,195.21.

BR Properties SA (BRPR3 BS), a Brazilian real estate developer and manager, advanced 4.6 percent to 24 reais, the highest since March 26. The company plans to sell 500 million reais ($242 million) in bonds maturing in five and seven years, according to a preliminary prospectus of the sale sent today to Brazil’s securities regulator.

Cia. de Locacao das Americas SA (LCAM3 BS) gained 0.7 percent to 7.60 reais, the highest in three weeks. Bank of America Corp., Banco do Brasil SA and Itau Corretora initiated coverage of Locamerica, as the car-rental company is known, with recommendations equivalent to buy.

Redecard SA (RDCD3 BS), Brazil’s second-biggest card payment processor, rose 5.2 percent to 33.36 reais, the steepest one-day advance since Feb. 7. The company said in a regulatory filing on June 15 after the market closed that Credit Suisse Group AG valued its shares at 34.66 reais to 38.12 reais, in line with controller Itau Unibanco Holding SA’s 11.8 billion-real bid for the company.

Usinas Siderurgicas de Minas Gerais SA (USIM5 BS), Brazil’s second-biggest steelmaker, sank 5.5 percent to 7.04 reais, the biggest drop since March 27, after Valor Economico reported that the company may sell shares and assets to raise at least 1.5 billion reais ($727 million) of additional capital as second-quarter financial results are expected to be worse than in the first three months of the year. The Sao Paulo-based newspaper cited calculations by market specialists it didn’t identify. Usiminas declined to comment in an e-mailed statement.

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