Oct. 10 (Bloomberg) -- The following companies had unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of the close of trading. Preferred shares are usually the most-traded class of stock.
The Bovespa Index gained 4 percent to 53,273.11.
Embraer SA (EMBR3 BS) advanced 6.2 percent to 11.80 reais. The planemaker received an order for 13 Legacy 650 jets from Minsheng Financial Leasing Co. Ltd., Embraer said in a statement. The first aircraft will be delivered by the end of this year, according to the statement.
MRV Engenharia & Participacoes SA (MRVE3 BS) rose 4.7 percent to 10.57 reais. The homebuilder was raised to “overweight” from “equal-weight” at Morgan Stanley. Rival Cyrela Brazil Realty SA Empreendimentos e Participacoes (CYRE3 BS) increased 5.4 percent to 12.51 reais after Morgan Stanley boosted its recommendation for the stock to “equal-weight” from “underweight.”
Petroleo Brasileiro SA (PETR4 BS) advanced 3.3 percent to 18.91 reais, and OGX Petroleo & Gas Participacoes SA (OGXP3 BS) gained 4.7 percent to 11.92 reais. Oil companies followed crude prices higher. Oil climbed to the highest in two weeks on speculation that fuel demand may increase after a pledge by European leaders to contain the region’s sovereign-debt crisis.
Redecard SA (RDCD3 BS) gained 5.4 percent to 28.65 reais. Brazil’s second-biggest card-payment processor dismissed about 300 employees between July and September as it seeks to make its operations more efficient, newspaper Valor Economico reported, citing an unidentified person familiar with the company’s plans. Redecard’s press office confirmed there had been job reductions to improve efficiency when contacted by Bloomberg News. It didn’t say how many cuts were made.
Universo Online SA (UOLL4 BS) jumped 8.9 percent to 18.68 reais. Parent company Folhapar SA increased its offer for the shares in Universo Online it doesn’t already own to 19 reais per share, the Internet provider said in a regulatory filing yesterday. Folhapar had previously offered to pay a maximum of 17 reais per share.
--Editors: Marie-France Han, Glenn J. Kalinoski
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