Brazil Stock Movers: CCR, Telebras, MRV, Rossi
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 rose 0.3 percent to 63,691.18.
CCR SA (CCRO3) (CCRO3 BS) gained 1 percent to 15.65 reais. The toll-road operator said a unit agreed to pay 72 million reais ($39.5 million) to acquire 80 percent of Barcas SA - Transportes Maritimos, according to a regulatory filing.
Telecomunicacoes Brasileiras SA (TELB4) (TELB4 BS) fell 0.1 percent to 13.69 reais, after earlier losing as much as 0.7 percent. The state-controlled telecommunications company known as Telebras said its board approved a 300 million reais capital increase by selling new shares.
Homebuilders gained as traders bet a slowdown in inflation last month will prompt Brazil’s central bank to keep cutting benchmark interest rates. MRV Engenharia e Participacoes SA (MRVE3 BS) gained 3.7 percent to 13.67 reais. Rossi Residencial SA (RSID3) (RSID3 BS) rose 2.8 percent to 10.15 reais.
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