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Brazil Stock Movers: BTG, Fibria Celulose, OGX, OSX Were Active

June 29 (Bloomberg) -- 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 3.2 percent to 54,354.63.

Fibria Celulose SA (FIBR3 BS), the world’s largest pulp producer, rose 8.1 percent to 14.88 reais, the highest price since May 8. Banco BTG Pactual raised its recommendation on the stock to buy from hold, citing lower debt levels and benefits from a weaker real.

OSX Brasil SA (OSXB3 BS) fell 3.6 percent to 9.00 reais, the lowest since it started trading in March 2010. The provider of equipment and services to the oil and gas industry, part of billionaire Eike Batista’s group, named Carlos Eduardo Sardenberg Bellot to replace Luiz Carneiro as chief executive officer, according to a regulatory filing yesterday. Carneiro was named CEO at OGX Petroleo e Gas Participacoes (OGXP3 BS), which rallied 8.9 percent to 5.50 reais.

Grupo BTG Pactual (BBTG11 BS) fell 0.3 percent to 29.40 reais after earlier gaining as much as 1.8 percent. The investment bank is in talks to acquire a controlling stake in payroll lender Banco BMG SA, newspaper Valor Economico reported today, without saying where it got the information. BTG declined to comment when contacted by Bloomberg News. BMG’s Chief Financial Officer Clive Botelho said in a telephone interview that the banks aren’t in talks for a stake sale.

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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