Brazilian Stock Movers: Petrobras, MMX, Vale, MPX Energia
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 (IBOV) Index fell 2.3 percent to 63,997.86.
Petroleo Brasileiro SA (PETR4) (PETR4 BS) fell 7.8 percent to 23.50 reais, the most in more than three years. Fourth-quarter results reported yesterday by the state-controlled oil producer were “really disappointing,” Itau BBA analysts Paula Kovarsky and Diego Mendes wrote in a report. Petrobras, as Petroleo Brasileiro is known, said net income fell to 5.05 billion reais ($2.9 billion) from 10.6 billion reais a year earlier.
Mining companies slid as metal prices fell the most in two months. MMX Mineracao e Metalicos SA (MMXM3 BS) lost 4 percent to 8.30 reais. Vale SA (VALE5) (VALE5 BS), the world’s largest iron ore producer, retreated 1.7 percent to 42.63 reais.
MPX Energia SA (MPXE3) (MPXE3 BS) lost 1.9 percent to 47.69 reais. The energy company controlled by billionaire Eike Batista said it’s delaying a $4 billion coal project in Colombia by more than a year amid price declines.
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