Brazilian Stock Movers: B2W, Dasa, Vale Decline; Hering Advances
The following companies had unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of the close of trading. Preferred shares are usually the most-traded class of stock.
The Bovespa Index fell 2 percent to 53,911.33.
Cia. Hering (HGTX3 BS) rose 2.4 percent to 32.60 reais. Brazil’s second-biggest clothing retailer reported 35 percent growth in third-quarter sales and increased to 86 from 71 the number of stores it plans to open in Brazil this year, according to a regulatory filing.
Diagnosticos da America SA (DASA3) (DASA3 BS) dropped 2.4 percent to 14.89 reais. The medical-diagnostics firm known as Dasa was lowered to “underweight” from “overweight” at JPMorgan Chase & Co.
Lojas Americanas SA (LAME4) (LAME4 BS) fell 2.2 percent to 14.54 reais and B2W Cia. Global do Varejo (BTOW3 BS) declined 2.4 percent to 14.15 reais. Banco Santander SA cut their respective recommendations to “hold” and “underperform.”
Vale SA (VALE3) (VALE5 BS) tumbled 3.8 percent to 38.74 reais. The world’s largest iron-ore producer is giving Chinese customers the option of paying for iron ore in the fourth quarter at prices close to the spot market price instead of following quarterly contracts, O Estado de S.Paulo newspaper reported on Oct. 15, citing an unidentified executive in the mining sector.
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