Brazilian Stock Movers: Embraer, Pao de Acucar, Vigor Alimentos
The following companies had unusual price changes in Sao Paulo trading. Stock symbols are in parentheses, and prices are as of the market close. Preferred shares are usually the most-traded class of stock.
The Bovespa (IBOV) Index rose 0.1 percent to 55,439.50.
Cia. Brasileira de Distribuicao Grupo Pao de Acucar (PCAR4 BS) gained 2 percent to 75.00 reais. Billionaire Abilio Diniz is handed control of Brazil’s biggest retailer to French group Casino Guichard-Perrachon SA (CO) today. Casino plans to convert preferred shares into common shares in order to list its stock on the Bovespa’s Novo Mercado section, newspaper Folha de S.Paulo reported, citing unidentified people close to the French company. Casino denied the report, according to a press officer who asked not to be identified in accordance with company policy.
Embraer SA (EMBR3) (EMBR3 BS) rose 0.8 percent to 13.43 reais. The aircraft manufacturer said in an e-mailed statement after the market closed yesterday that it signed an agreement with Aviation Industry Corp. (600316) of China to build the Legacy 600/650 executive jets in China.
Vigor Alimentos SA (VIGR3) (VIGR3 BS), the Brazilian dairy products maker that JBS SA (JBSS3) spun off in a share swap yesterday, fell 20 percent on its first day of trading in Sao Paulo to 6.40 reais, down from an offering price of 7.96 reais.
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