Bloomberg News

Brazil Stock Movers: Banco Santander Brasil, CCR, Embraer Gain

September 29, 2011

Sept. 29 (Bloomberg) -- The following companies had unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of 4:17 p.m. New York time. Preferred shares are usually the most-traded class of stock.

The Bovespa Index rose 0.2 percent to 53,384.67.

Banco Santander Brasil SA (SANB11 BS), the Brazilian unit of Spain’s biggest bank, gained 1.5 percent to 14.45 reais as Chief Executive Officer Alfredo Saenz said the bank’s profit will “return to normal” in the next three years as revenue from emerging markets drives growth. The bank’s return on equity may improve between three and six percentage points, Saenz said in an e-mailed statement.

Cia. de Concessoes Rodoviarias (CCRO3 BS), Brazil’s biggest toll-road operator, advanced 2.8 percent to 47.39 reais as shares were raised to “buy” from “neutral” at Banco BTG Pactual by equity analyst Rodrigo Goes. BTG set a 12-month target price for CCR of 57 reais.

Embraer SA (EMBR3 BS), the world’s fourth-largest planemaker, increased 1.6 percent to 11.78 reais as Deutsche Lufthansa AG, Europe’s second-biggest airline, said it will buy five of Embraer’s 195 regional jets, valued at more than $200 million. The Embraer order was part of a $1.5 billion capital expenditure program that includes 7 aircraft from Airbus SAS, the Germany-based carrier said today in a statement.

--With assistance from Eduardo Thomson in Santiago. Editors: Glenn J. Kalinoski, Richard Richtmyer

To contact the reporter on this story: Leon Lazaroff in New York at llazaroff@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


Burger King's Young Buns
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus