Brazilian Stock Movers: Hering, Even, Metal Producers Increase
The following companies are having unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of 2:01 p.m. local time. Preferred shares are usually the most-traded class of stock.
The Bovespa (IBOV) index gained 1.6 percent to 60,047.77, a six- month high.
Cia. Hering (HGTX3) (HGTX3 BS) rose 3.1 percent to 37.92 reais, the highest in a month. Same-store sales increased 8.1 percent at the retailer in the last three months of 2011, according to preliminary results in a filing yesterday, exceeding a forecast for 5 percent growth from Banco Santander SA. Larger rival Lojas Renner SA (LREN3) (LREN3 BS) rallied 3 percent.
Homebuilder Even Construtora e Incorporadora SA (EVEN3 BS) climbed 2.2 percent to 6.52 reais. Contracted sales reached 477 million reais ($264 million) in the fourth quarter, according to preliminary results in a regulatory filing. The figures exceeded estimates at Credit Suisse AG, which rates the shares “outperform,” according to a Jan. 9 research note from analysts including Guilherme Rocha.
Metal companies gained as the price of raw materials increased. Usinas Siderurgicas de Minas Gerais SA (USIM5 BS), Brazil’s second-largest steelmaker, rose 3.4 percent to 10.95 reais. Gerdau SA (GGBR4) (GGBR4 BS), Latin America’s largest steelmaker, advanced 3.5 percent to 16.30 reais. Iron-ore miner MMX Mineracao & Metalicos SA (MMXM3 BS) gained 2.9 percent to 7 reais.
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