Bloomberg News

Brazil Stock Movers: Confab, Iochpe-Maxion and Telefonica Brasil

December 14, 2011

Dec. 13 (Bloomberg) -- The following companies are having 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 0.3 percent to 57,494.85.

Confab Industrial SA (CNFB4 BS) rose 2.3 percent to 3.92 reais. The Brazilian maker of steel tubes said in a regulatory filing it is in the final stages of negotiating a 657 million reais ($352.5 million) contract to supply Petroleo Brasileiro SA, Brazil’s state-owned oil company, with parts for its Rota Cabiunas offshore gas pipeline.

Iochpe-Maxion SA (MYPK3 BS) jumped 5.1 percent to 24.69 reais. The Brazilian auto-parts maker said in a filing its acquisition of U.S.-based rival Hayes Lemmerz International Inc. was approved by the U.S. Federal Trade Commission.

Telefonica Brasil SA (VIVT4 BS) climbed 1.3 percent to 48.67 reais. The Brazilian unit of Spain’s largest phone company declared a dividend of 617 million reais, according to a regulatory filing.

--Editors: Richard Richtmyer, Glenn J. Kalinoski

To contact the reporter on this story: Ney Hayashi in Sao Paulo at ncruz4@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos in New York at papadopoulos@bloomberg.net


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