Brazilian Stock Movers: BR Malls, Gol, MRV Were Active
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 Index rose 0.5 percent to 63,010.48.
BR Malls Participacoes SA (BRML3) (BRML3 BS) gained 2.8 percent to 23.40 reais. Companies that sell in the local market advanced on speculation Brazil’s central bank may cut borrowing costs to boost growth.
Gol Linhas Aereas Inteligentes SA (GOLL4) (GOLL4 BS) slumped 7.6 percent to 10.51 reais. Brazil’s second-biggest airline by market value retreated as the Finance Ministry denied a report that it may cut payroll taxes to boost competitiveness in the industry. The stock rallied 11 percent yesterday after Valor Economico said Brazil may lower some levies.
MRV Engenharia e Participacoes SA (MRVE3 BS) fell 5.1 percent to 12.95 reais. The homebuilder said in a statement that contracted sales declined 2 percent and launches decreased 38 percent in the first quarter of 2012 from a year earlier.
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