Bloomberg News

Brazilian Stock Movers: BR Malls, Gafisa, Iochpe, MMX, Petrobras

October 19, 2011

Oct. 19 (Bloomberg) -- The following companies had unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of the close. Preferred shares are usually the most-traded class of stock.

The Bovespa Index fell 0.1 percent to 54,966.13.

BR Malls Participacoes SA (BRML3 BS) advanced 2.4 percent to 19 reais. Brazil’s biggest owner of shopping centers said sales in stores located in the malls it operates rose 24 percent to 3.9 billion reais ($2.2 billion) in the third quarter, according to preliminary results in a regulatory filing.

Gafisa SA (GFSA3 BS) increased 4.2 percent to a one-month high of 6.15 reais. Brazil’s third-biggest homebuilder by revenue said third-quarter contracted sales increased 2.6 percent from a year earlier to 1.05 billion reais, according to a regulatory filing detailing preliminary results.

Hypermarcas SA (HYPE3 BS) gained 4.5 percent to 9.74 reais. The consumer-goods maker agreed to sell its cleaning-product brands Assolan and Assim, Veja magazine columnist Lauro Jardim reported, without saying where he got the information. The company will announce the sale as soon as today, the Sao Paulo- based magazine said on its website.

Iochpe-Maxion SA (MYPK3 BS) advanced 3.5 percent to 22.25 reais. The vehicle-parts maker agreed to pay $195 million for Mexican rival Grupo Galaz SA in its second acquisition in North America this month.

MMX Mineracao & Metalicos SA (MMXM3 BS) declined 3.5 percent to 6.85 reais. The iron-ore producer controlled by billionaire Eike Batista said Guilherme Escalhao was named to replace Roger Downey as chief executive officer. Separately, the Bloomberg Base Metals 3-Month Price Commodity Index fell 2.2 percent.

Vale SA (VALE5 BS) dropped 2.9 percent to 37.69 reais. The world’s largest iron-ore producer is “willing to accommodate” provisional pricing of the steelmaking ingredient on requests from Chinese clients, UBS AG said, citing conversations with the company.

Petroleo Brasileiro SA (PETR4 BS) lost 1.1 percent to 19.23 reais as crude dropped 2.6 percent in New York. Employees of the state-controlled oil company and other oil workers in Brazil plan to carry out a work slowdown today at refineries, platforms and plants to push for salary increases, a union leader said.

--Editors: Brendan Walsh, 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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