Brazilian Stock Movers: Pao de Acucar, Duratex, OGX Petroleo
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 advanced 0.1 percent to 66,203.50.
Cia Brasileira de Distribuicao Grupo Pao de Acucar (PCAR4 BS) gained 5.7 percent to 79.20 reais, rising the most on the Bovespa. Brazil’s biggest retailer said fourth-quarter profit rose 43 percent to 361 million reais ($211 million), exceeding analysts’ estimates, as the company improved profit margins.
Duratex SA (DTEX3) (DTEX3 BS) lost 2.7 percent to 9.91 reais. The maker of wood panels and bathroom fixtures reported adjusted net income of 79.4 million reais in the fourth quarter, falling short of the average analyst estimate compiled by Bloomberg for 80.47 million reais in profit.
OGX Petroleo & Gas Participacoes SA (OGXP3 BS) advanced 2 percent to 17.65 reais, extending its weekly gain to 4.9 percent. Oil climbed to a nine-month high in New York, as signs of an improving U.S. economy and progress on a Greek bailout bolster the outlook for fuel demand. Petroleo Brasileiro SA (PETR4) (PETR4 BS) gained 0.7 percent to 24.05 reais, for a 2.3 percent gain this week, the first five-day rise in three weeks.
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