Bloomberg News

Brazil Stock Movers: Gol Linhas Aereas Gains; Embraer, JBS Fall

December 07, 2011

Dec. 7 (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 1.5 percent to 58,662.83.

Gol Linhas Aereas Inteligentes SA (GOLL4 BS) gained 3.6 percent to 15.50 reais. Brazil’s second-biggest airline by market value said Delta Air Lines Inc. agreed to buy a minority stake for $100 million.

Embraer SA (EMBR3 BS), the world’s fourth-largest aircraft maker, dropped 1.7 percent to 11.09 reais. A U.S. corruption probe started more than a year ago in Argentina with government- controlled Aerolineas Argentinas SA’s $700 million purchase of 20 E-190 jets in 2009, Valor Economico newspaper reported today, without saying how it got the information. The U.S. Securities and Exchange Commission is investigating Embraer for possible violation of Foreign Corrupt Practices Act, Embraer said Nov. 2.

JBS SA (JBSS3 BS) declined 2.4 percent to 6.10 reais. Moody’s Investors Service cut the ratings outlook on the world’s biggest beef producer to stable from positive, according to an e-mailed statement.

--Editors: Brendan Walsh, Marie-France Han

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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