Brazilian Stock Movers: Dasa Drops; MMX Mineracao, Lupatech Gain
The following companies had unusual (IBOV) 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 (IBOV) Index gained 0.4 percent to 56,754.08.
Diagnosticos da America SA (DASA3) (DASA3 BS) fell 0.4 percent to 15.50 reais after earlier gaining as much as 3.1 percent. BM&FBovespa SA said the medical-diagnostics firm known as Dasa will be added to the benchmark index.
MMX Mineracao & Metalicos SA (MMXM3) (MMXM3 BS) added 3.3 percent to 6.67 reais. The iron-ore miner controlled by billionaire Eike Batista signed an agreement with MRS Logistica SA to transport the material from mines to the Sudeste Superport.
Lupatech SA (LUPA3) (LUPA3 BS) jumped 3.5 percent to 4.45 reais. Brazil’s biggest provider of oil equipment and services said it will raise as much as 700 million reais ($375 million) in share sales, damping concern it will default on its debt. Brazilian development bank BNDES and pension fund Petros will buy a combined 300 million reais of shares while GP Investments may buy 50 million reais and BNDES may buy a further 350 million reais, Lupatech said in a regulatory filing.
To contact the reporter on this story: Zachary Tracer in New York at firstname.lastname@example.org
To contact the editor responsible for this story: David Papadopoulos in New York at email@example.com