Brazilian Stock Movers: B2W, Lupatech, OGX, Petrobras, Positivo
The following companies had unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of 4:15 P.m. New York time. Preferred shares are usually the most-traded class of stock.
The Bovespa Index rose 0.3 percent to 64,294.96.
B2W Cia. Global do Varejo (BTOW3 BS) slid 1.8 percent to 22.14 reais. The company’s Americanas.com online retailer was banned by a Brazilian court from selling goods in Rio de Janeiro state until it improves its deliveries, according to a statement posted on the public prosecutor office’s website. About 20,000 consumers had complained about delays in Americanas.com’s deliveries, the statement said.
OGX Petroleo & Gas Participacoes SA (OGXP3 BS) rose 2.2 percent to 15.85 reais, and Petroleo Brasileiro SA (PETR4) (PETR4 BS) climbed 0.4 percent to 24.29 reais as oil prices increased. Crude gained after Group of Eight leaders said the world economy is gaining strength, spurring speculation that the global recovery will sustain demand for fuel.
Lupatech SA (LUPA3) (LUPA3 BS) advanced 4.2 percent to 10.40 reais. Brazil’s biggest provider of oil equipment and services gained on speculation it will benefit from Petrobras’s crude- exploration investments, said Erick Hood, an analyst at Sao Paulo-based SLW Corretora brokerage.
Positivo Informatica SA (POSI3) (POSI3 BS) jumped the most in almost two years, climbing 8.6 percent to 6.60 reais. Brazil’s biggest computer maker was raised to “buy” from “neutral” at Banco BTG Pactual SA, which cited the stock’s “massive underperformance” in a note to clients written by analysts including Carlos Sequeira. Positivo tumbled 38 percent this year through yesterday, the worst performing stock in the IBX index of 101 most-traded stocks in Sao Paulo.
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