Brazilian Equity Movers: Gerdau, Itau, LLX, Souza Cruz, Usiminas
Ibovespa rose 1.2% at the close of Sao Paulo trading.
ADVANCERS: * Usiminas (USIM5 BS) +4.7%; follows metals higher, export outlook boosted by weaker real * Gerdau (GGBR4 BS) +6.6%; upgraded to buy at Santander * PDG Realty (PDGR3 BS) +8.5% * Souza Cruz (CRUZ3 BS) +2.7%; rated equivalent to buy in new coverage at Bradesco Corretora
DECLINERS: * Itau (ITUB4 BS) -2.1%; Brazil claiming 18.7b reais in unpaid taxes, fines, according to regulatory filing today * LLX (LLXL3 BS) -4.2% * BR Malls (BRML3 BS); -4.2%; Renner (LREN3 BS) -3.3%; JPMorgan cut Brazil 2014 growth forecast to 2.4% from 2.7%
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