Brazilian Stock Movers: Usiminas, Vale, MRV Engenharia
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 gained 1.4 percent to 66,016.76.
Usinas Siderurgicas de Minas Gerais SA (USIM5 BS) lost 2.2 percent to 11.88 reais. Brazil’s second-largest steelmaker by output said fourth-quarter profit plummeted 84 percent to 44.6 million reais ($25.3 million).
Vale SA (VALE5) (VALE5 BS) dropped less than 0.1 percent to 40.15 reais, after earlier losing as much as 2.1 percent. The world’s largest iron-ore producer said in a statement yesterday it lost an injunction for claims of 9.8 billion reais plus interest related to tax liabilities on its non-Brazilian domiciled units to be treated as an administrative dispute. The company said it will file an appeal.
Homebuilders gained on speculation Brazilian policy makers will cut interest rates at a meeting today, helping fuel demand. MRV Engenharia & Participacoes SA (MRVE3) (MRVE3 BS) advanced 4.7 percent to 14.82 reais and Rossi Residencial SA (RSID3) (RSID3 BS) jumped 7 percent to 10.95 reais.
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