Brazilian Stock Movers: BR Malls, Gafisa, Petroleo Brasileiro
The following companies are having unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of 11:48 a.m. local time. Preferred shares are usually the most-traded class of stock.
The Bovespa (IBOV) Index fell 1.1 percent to 62,244.54.
BR Malls Participacoes SA (BRML3) (BRML3 BS) gained 1.5 percent to 24.20 reais. Brazil’s biggest owner of shopping malls signed a joint venture agreement with Simon Property Group Inc., the biggest U.S. mall owner, to develop and own outlet centers in the Latin American country, according to a statement dated April 9.
Gafisa SA (GFSA3) (GFSA3 BS) lost 1.7 percent to 4.03 reais, the lowest since Dec. 3, 2008, based on closing prices. Brazil’s fifth-biggest homebuilder by revenue posted a consolidated net loss of 1.03 billion reais ($565 million) in the last three months of 2011, compared with a loss of 14.1 million reais in the same period a year earlier, according to a regulatory filing today.
Petroleo Brasileiro SA (PETR4) (PETR4 BS) lost 0.6 percent to 21.46 reais, headed for the lowest close this year. The state- controlled oil company declined as crude oil for May delivery fell for a second day, sliding 0.7 percent to $101.70 a barrel on the New York Mercantile Exchange.
To contact the reporter on this story: Zachary Tracer in New York at email@example.com
To contact the editor responsible for this story: David Papadopoulos at firstname.lastname@example.org