Brazilian Stock Movers: ALL, MMX, Vale Drop as Bovespa Plunges
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 2.8 percent to 65,114.15.
ALL America Latina Logistica SA (ALLL3) (ALLL3 BS) slid 1.5 percent to 9.92 reais. Latin America’s largest railroad company reported a fourth-quarter net loss of 32.5 million reais ($18.5 million), trailing the average estimate for a profit of 5.43 million reais in a Bloomberg survey of three analysts.
MMX Mineracao & Metalicos SA (MMXM3) (MMXM3 BS) dropped 5.9 percent to 9 reais, the steepest one-day decline in five months. Guido Roberto Campos Germani resigned as chief financial officer of the iron-ore miner and will be replaced by Guilherme de Alencar Amado, according to a regulatory filing.
Vale SA (VALE5) (VALE5 BS) lost 4.4 percent to 40.17 reais. The world’s largest iron-ore producer put up 1.6 billion reais ($919.8 million) in collateral in a dispute over unpaid tax claims in Brazil.
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