Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Bloomberg Customers

Tecnisa Gains Most Since February as Sales, Projects Rise

Brazilian homebuilder Tecnisa SA climbed the most since February after reporting a surge in sales and new projects in the second quarter.

The shares rose 4 percent to 7.85 reais at the close of trading in Sao Paulo, the biggest gain since Feb. 28. The BM&FBovespa Real Estate index advanced 1.8 percent.

Sao Paulo-based Tecnisa’s sales booked in the second quarter more than doubled to 555 million ($244.9 million) from a year earlier, while new projects increased fourfold to 554 million reais, the homebuilder said in a regulatory filing late yesterday.

“Tecnisa is starting to show an improvement in its operations,” Eduardo Silveira and Frederico Mendes, analysts at BES Securities Brazil, wrote in a note to clients today.

Tecnisa has dropped 2.6 percent this year, the second-best performance on the real estate index, which tumbled 26 percent.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.