Brazilian Stock Movers: Alpargatas, Hypermarcas, Petrobras, Tim
The following companies are having unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of 11:21 a.m. local time. Preferred shares are usually the most-traded class of stock.
Hypermarcas SA (HYPE3) (HYPE3 BS) jumped 5.9 percent to 12.70 reais. The consumer-goods maker gained the most in eight weeks after reporting first-quarter net income increased 24 percent to 40.8 million reais ($21.2 million).
Petroleo Brasileiro SA (PETR4) (PETR4 BS) slid 1.5 percent to 20.18 reais. Brazil’s state-controlled oil company followed crude lower, and the MSCI Brazil/Energy Index dropped the most among 10 industry groups.
Sao Paulo Alpargatas SA (ALPA4) (ALPA4 BS) dropped 3.1 percent to 14.97 reais. The maker of Havaianas flip-flops said net income fell 10 percent to 78.2 million reais in the first quarter.
Tim Participacoes SA (TIMP3) (TIMP3 BS) fell 1.6 percent to 10.33 reais. Chief Executive Officer Luca Luciani left the company and will be temporarily replaced by Andrea Mangoni, the chief financial officer at parent Telecom Italia SpA. Tim was also lowered to the equivalent of hold at Barclays Capital.
To contact the reporter on this story: Ney Hayashi in Sao Paulo at email@example.com