Bloomberg News

Brazil Stock Movers: Brookfield, Vale Advance; Petrobras Falls

October 05, 2011

Oct. 5 (Bloomberg) -- The following companies had unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of 4:15 p.m. New York time. Preferred shares are usually the most-traded class of stock.

The Bovespa Index gained 0.6 percent to 51,013.85.

Brookfield Incorporacoes SA (BISA3 BS) advanced 4.1 percent to 5.60 reais. Brazil’s fourth-largest real-estate company by revenue led gains for homebuilders as traders added to bets on lower interest rates, boosting the outlook for housing demand.

Petroleo Brasileiro SA (PETR4 BS) slid 1.8 percent to 18.21 reais. Workers at Brazil’s state-controlled oil producer will meet on Oct. 11 to discuss a possible strike. The workers plan to demand a 10 percent raise over inflation and better work and security conditions, the United Federation of Oil Workers said in an e-mailed statement.

Vale SA (VALE5 BS) gained 2.2 percent to 38.70 reais, the steepest rise since Sept. 6. The world’s largest iron-ore producer advanced as the Bloomberg Base Metals 3-Month Price Commodity Index gained 0.6 percent.

--Editors: Richard Richtmyer, Glenn J. Kalinoski

To contact the reporter on this story: Alexander Cuadros in Sao Paulo at acuadros@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos in New York at papadopoulous@bloomberg.net


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