Bloomberg News

Brazil Stock Movers: Embraer, Gafisa, OGX, Petroleo Brasileiro

January 02, 2012

Jan. 2 (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 1.9 percent to 57,829.27.

Embraer SA (EMBR3 BS) rose 0.3 percent to 11.80 reais. The world’s fourth-largest plane builder and U.S.-based Sierra Nevada Corp. were awarded a $355 million contract to provide 20 A-29 Super Tucano aircraft to the U.S. Air Force, Embraer said in an e-mailed statement on Dec. 30.

Gafisa SA (GFSA3 BS) jumped 8.7 percent to 4.48 reais. Traders bet borrowing costs will decline after a central bank survey showed economists covering Brazil cut their 2012 inflation forecast for a fifth straight week.

OGX Petroleo & Gas Participacoes SA (OGXP3 BS) added 1 percent to 13.75 reais. The oil company controlled by billionaire Eike Batista said in a regulatory filing today it expects to start long-duration tests at its Waimea field on Jan. 23 after its OSX-1 platform received an operating license from environmental authorities.

Petroleo Brasileiro SA (PETR4 BS) climbed 1.1 percent to 21.73 reais. Petrobras, as the oil company is known, declared an oil and gas deposit in Brazil’s Guara area commercially viable. The area has an estimated 2.1 billion barrels of recoverable oil equivalent, according to a statement to Brazil’s National Petroleum Agency.

--Editor: Marie-France Han

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


Hollywood Goes YouTube
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus