Nov. 24 (Bloomberg) -- The following companies are having unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of 1:31 p.m. local time. Preferred shares are usually the most-traded class of stock.
The Bovespa index lost 0.6 percent to 54,644.05.
Cia. Brasileira de Distribuicao Grupo Pao de Acucar (PCAR4 BS) rose 1.1 percent to 60.23 reais. Globex Utilidades SA, a unit of Brazil’s biggest retailer, said it plans to open 210 stores by 2014, according to a regulatory filing.
Lupatech SA (LUPA3 BS) plummeted 15 percent to 3.97 reais, adding to yesterday’s 20 percent drop. Investors are betting Brazil’s largest oil services provider will default on overseas dollar bonds after it asked holders to amend covenants. The company’s $275 million of 9.875 percent senior unsecured perpetual bonds plunged 11.6 cents yesterday to a record 36.5 cents on the dollar, sending yields up 651 basis points to 27.04 percent.
Suzano Papel & Celulose SA (SUZB5 BS) dropped 2.4 percent to 6.82 reais while Fibria Celulose SA (FIBR3 BS) declined 0.5 percent to 12.58 reais. Standard & Poor’s cut its outlook for the pulp producers, according to a statement yesterday. The outlook was lowered to stable from positive for Fibria and to negative from stable for Suzano.
--Editor: Brendan Walsh
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