Brazil Stock Movers: Eletropaulo, Petrobras, Positivo, Usiminas
The following companies are having unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of 12:25 p.m. local time. Preferred shares are usually the most-traded class of stock.
The Bovespa (IBOV) Index fell 0.2 percent to 68,227.03.
Eletropaulo Metropolitana SA (ELPL4) (ELPL4 BS) added 2.4 percent to 38.53 reais. The Brazilian unit of AES Corp. reported fourth- quarter net income of 686.7 million reais ($378.8 million), more than double the profit of 310.8 million reais a year earlier, according to a regulatory filing.
Petroleo Brasileiro SA (PETR4) (PETR4 BS) increased 1.3 percent to 24.75 reais. Brazil’s state-controlled oil company will announce on March 16 a cut in its investment plan, Veja magazine reported, without saying where it obtained the information. Petrobras’s press office in Rio de Janeiro didn’t immediately comment when contacted by Bloomberg News today.
Positivo Informatica SA (POSI3) (POSI3 BS) jumped 5 percent to 7.51 reais. Brazil’s biggest computer maker reported fourth-quarter net income of 45.7 million reais. That compares with an average estimate of 28.6 million reais among four analysts surveyed by Bloomberg.
Usinas Siderurgicas de Minas Gerais SA (USIM5 BS) gained 1.9 percent to 12.96 reais. Brazil’s second-biggest steelmaker may resume plans to sell units Usiminas Mecanica and Usiminas Automotiva, O Estado de S. Paulo reported, citing an unidentified person close to the company’s administration. An Usiminas press official in Belo Horizonte said the company won’t comment on the report.
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