Brazilian Stocks: Brasil Foods, MRV Engenharia, OGX, Petrobras
The following companies had price changes in Sao Paulo trading. Stock symbols are in parentheses, and prices are as of the close. Preferred shares are usually the most-traded class of stock.
The Bovespa (IBOV) Index rose 1 percent to 62,423.56
Brasil Foods (BRFS3) SA (BRFS3 BS) retreated 2.8 percent to 33.89 reais in its second day of losses. The world’s largest poultry exporter was cut to neutral from buy at Bank of America Corp.
MRV Engenharia (MRVE3) & Participacoes SA (MRVE3 BS) jumped 5 percent to 11.65 reais, the biggest increase in two weeks. Brazil’s BTG Pactual added the real estate developer to its “10 stock ideas for the month.” The bank said that after a “recent sell-off, we see a chance to jump in.”
OGX Petroleo (OGXP3) & Gas Participacoes SA (OGXP3 BS) advanced 5.8 percent to 14 reais. The oil company rose the most in a week after its founder, Brazilian billionaire Eike Batista, said he’s considering selling another stake in his EBX Group and BTG Pactual called the oil producer “a compelling investment opportunity.”
Petroleo Brasileiro SA (PETR4) (PETR4 BS) rose 3.3 percent to 22 reais in its biggest gain in seven weeks. Brazil’s state- controlled oil company may participate in a 5 billion-real ($2.6 billion) project led by DTA Engenharia to build a terminal in the Brazilian city of Marica, Valor Economico reported. It cited company executives.
To contact the reporter on this story: Eduardo Thomson in Santiago at firstname.lastname@example.org
To contact the editor responsible for this story: David Papadopoulos at email@example.com