Bloomberg News

Brazilian Stock Movers: Fibria Declines; Petrobras, OGX Gain

October 11, 2011

Oct. 11 (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 rose 1.1 percent to 53,838.47.

Fibria Celulose SA (FIBR3 BS) dropped 0.9 percent to 14.66 reais. The world’s largest pulp producer was cut to “neutral” from “outperform” at Credit Suisse Group AG.

OGX Petroleo & Gas Participacoes SA (OGXP3 BS) advanced 3.1 percent to 12.29 reais. Eike Batista, the oil company’s billionaire controller, boosted his stake to 62.5 percent from 61 percent, according to the company’s press office.

Petroleo Brasileiro SA (PETR4 BS) advanced 1.3 percent to 19.16 reais. Brazil’s state-controlled oil company followed crude prices after they pared losses in New York.

--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 at papadopoulos@bloomberg.net


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