Brazil Stock Movers: Lojas Renner and Unicasa Were Active
The Bovespa (IBOV) Index fell 0.8 percent to 61,691.21.
Lojas Renner SA (LREN3 BS) rose 3.4 percent to 60.20 reais. The retailer’s 25 percent fall in first quarter profit was due to operating expenses such as store openings, “which is seen as positive,” Leonardo Zanfelicio, an analyst at Concordia Corretora, said by phone from Sao Paulo.
Unicasa Industria de Moveis SA (UCAS3 BS) advanced 9.7 percent to 15.36 reais in debut trading today. The Brazilian furniture maker and its shareholders raised as much as 425.6 million reais in an initial public offering on April 25. The Bento Goncalves, Brazil-based company is selling as many as 30.4 million voting shares for 14 reais each, according to a regulatory filing on April 26.
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