Bloomberg News

Brazilian Stock Movers: CPFL Energia, Even Construtora, Vale

March 13, 2012

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 (IBOV) Index jumped 3 percent to 68,394.33.

CPFL Energia SA (CPFE3) (CPFE3 BS) fell 0.1 percent to 29.27 reais, after earlier jumping as much as 1.6 percent. Brazil’s largest utility by market value reported fourth-quarter adjusted net income that exceeded analysts’ estimates. Per-share earnings fell short of the average estimate.

Even Construtora e Incorporadora SA (EVEN3 BS) advanced 3.7 percent to 7.80 reais. The builder reported annual sales of 1.9 billion reais ($1 billion), above the average estimate for 1.8 billion reais in a Bloomberg survey of six analysts.

Vale SA (VALE5) (VALE5 BS) gained 5.4 percent to 41.59 reais, halting a six-day slide. The world’s largest iron-ore producer gained as metal prices rose and on speculation policy makers in China, the company’s largest market, will act to spur growth. MMX Mineracao & Metalicos SA (MMXM3) (MMXM3 BS) advanced 5.5 percent to 9.41 reais.

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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