Brazilian Stock Movers: Gol, Itausa, Petrobras, Rodobens
The following companies had unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of 3:15 p.m. New York time. Preferred shares are usually the most-traded class of stock.
The Bovespa Index fell 0.7 percent to 70,578.83.
Gol Linhas Aereas Inteligentes SA (GOLL4 BS), Brazil’s biggest airline by market value, fell 2.2 percent to 25.92 reais. Brazilian airlines should accept workers’ demand for a 10 percent increase in wages, Labor Minister Carlos Lupi said in an interview in Brasilia.
Itausa - Investimentos Itau SA (ITSA4 BS), the parent company of the country’s biggest lender, slid 2.1 percent to 13.26 reais, leading declines for financial stocks. Brazil’s central bank set reserve requirements on short dollar positions held by local banks in its third attempt since October to stem a rally in the currency.
Separately, Camargo Correa SA sold 192.6 million common shares it held in Itausa, equivalent to 11.5 percent of total shares of that class, according to a regulatory filing.
Petroleo Brasileiro SA (PETR4 BS) lost 0.4 percent to 27.11 reais. Brazil’s state-controlled oil company may make a formal offer for Eni SpA’s stake in Galp Energia SGPS SA by Jan. 9, Italian newspaper MF reported, without saying where it got the information. Petrobras announced earlier this week it’s in talks to buy Eni’s 33 percent stake in Portugal’s biggest oil company.
Rodobens Negocios Imobiliarios SA (RDNI3 BS) gained 1.2 percent to 16.75 reais. The homebuilder forecast fourth-quarter contracted sales of 189 million reais, according to a regulatory filing.
To contact the reporter on this story: Alexander Cuadros in Sao Paulo at email@example.com
To contact the editor responsible for this story: David Papadopoulos at firstname.lastname@example.org