Bloomberg News

Brazil Stock Movers: Gol Linhas Aereas, Nadir and Petrobras

September 30, 2011

Sept. 30 (Bloomberg) -- The following companies had unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of 4:20 p.m. New York time. Preferred shares are usually the most-traded class of stock.

The Bovespa Index fell 2 percent to 52,324.42.

Gol Linhas Aereas Inteligentes SA (GOLL4 BS) retreated 4.9 percent to 10.24 reais, its lowest closing price since Aug. 19. Brazil’s second-largest airline by market share is retreating as investors sell “riskier” emerging market shares and on speculation that the real’s fall versus the U.S. dollar will damp demand for flights, Rosangela Ribeiro, an analyst at Sao Paulo-based brokerage firm SLW Corretora de Valores & Cambio, said in a phone interview today.

Nadir Figueiredo Industria e Comercio SA (NAFG4 BS) rose 18 percent to 13 reais, the biggest gain in almost five months. The Brazilian manufacturer of glassware and ceramic products, said it agreed to buy Cie. de Saint-Gobain SA’s glassware maker in Brazil.

Petroleo Brasileiro SA (PETR4 BS) fell 1.5 percent to 19.10 reais, its lowest price since Aug. 8. Brazil’s state-controlled oil company dropped in line with crude prices, which fell as signs of slower growth in China, the U.S. and Germany heightened concern that fuel demand will suffer.

--Editors: Richard Richtmyer, Glenn J. Kalinoski

To contact the reporter on this story: Eduardo Thomson in Santiago at ethomson1@bloomberg.net

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


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