Brazilian Stock Movers: CTEEP, Hering, OSX, Localiza and Taesa
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 fell 2.1 percent to 54,194.79.
Cia. de Transmissao de Energia Eletrica Paulista (TRPL4 BZ), an electricity distributor known as CTEEP, advanced 2.9 percent to 56.60 reais, the biggest gain since May 3. Credit Suisse Group AG (CSGN) raised it to the equivalent of hold from sell.
Cia. Hering (HGTX3) (HGTX3 BZ), Brazil’s second-biggest apparel retail chain, declined 3.5 percent to 36.66 reais, the lowest since July 11. Sales at stores open at least a year fell 3.9 percent in the second quarter from a year earlier, Hering said in a regulatory filing yesterday.
OSX Brasil SA (OSXB3) (OSXB3 BZ) advanced 4.2 percent to 10.15 reais after earlier gaining as much as 6 percent. The provider of equipment and services to the oil and gas industry, part of the billionaire Eike Batista’s group, signed a contract with Petroleo Brasileiro SA (PETR4) to supply oil platforms.
Localiza Rent a Car SA (RENT3 BZ), Latin America’s largest car-rental company, was unchanged at 31 reais after rising 2.6 percent earlier in the day. The company said in a regulatory filing yesterday that it plans to buy back as many as 8.45 million shares in one year. There are 130 million shares outstanding.
Transmissora Alianca de Energia Eletrica SA (TAEE11 BZ) gained 3.8 percent to 69.55 reais after advancing as much as 5.2 percent. The power transmitter also known as Taesa said in a regulatory filing yesterday after the market closed that it is raising as much as 1.76 billion reais ($870 million) in a public offering to expand its transmission network.
To contact the editor responsible for this story: David Papadopoulos at email@example.com