Bloomberg News

Brazilian Stock Movers: Redecard, Cielo, Itau, Vale Advance

February 07, 2012

Feb. 7 (Bloomberg) -- The following companies had unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as the close of trading. Preferred shares are usually the most-traded class of stock.

The Bovespa Index gained 1.1 percent to 65,917.02.

Redecard SA (RDCD3 BS) jumped 10 percent to 35.40 reais, the biggest gain in more than three years. Itau Unibanco Holding SA offered to buy out minority shareholders of the card-payment processor for as much as 35 reais per share.

Rival Cielo SA (CIEL3 BS) jumped 4.2 percent to 56.25 reais.

Itau Unibanco Holding SA (ITUB4 BS) gained 0.9 percent to 36.40 reais. Brazil’s biggest bank said fourth-quarter profit rose 10 percent to 3.75 billion reais, matching the average estimate for adjusted earnings among analysts surveyed by Bloomberg.

Vale SA (VALE5 BS) gained 0.1 percent to 43.97 reais, after sliding as much as 1.4 percent earlier. The world’s largest iron-ore producer rebounded as metal prices recovered from an earlier drop.

--Editors: Glenn Kalinoski, Brendan Walsh

To contact the reporter on this story: Zachary Tracer in New York at ztracer1@bloomberg.net

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


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