Brazilian Stock Movers: Brasil Insurance, Camargo, Qualicorp
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 67,730.31.
Brasil Insurance Participacoes e Administracao SA (BRIN3 BS) gained 2.3 percent to 20.15 reais, the highest since March 1. Banco BTG Pactual SA said the company is its top pick in the insurance industry and recommended clients buy the stock, according to a research note dated today.
Camargo Correa Desenvolvimento Imobiliario SA (CCIM3) (CCIM3 BS) jumped 8.5 percent to 4.60 reais, the highest since July 29. The homebuilder’s parent, Camargo Correa SA, plans to buy its outstanding shares and delist the company’s stock, according to a regulatory filing.
Qualicorp SA (QUAL3) (QUAL3 BS) rose 0.1 percent to 15.91 reais, after earlier gaining as much as 1.5 percent. The health insurance broker said its unit Qualicorp Corretora de Seguros SA agreed to buy Fidelitas Corretora de Seguros SA’s client portfolio, according to a March 16 regulatory filing.
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