Bloomberg News

Brazilian Stock Movers: Copel, Gol, Pao de Acucar Were Active

March 27, 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 lost 1 percent to 66,037.35.

Cia. Paranaense de Energia (CPLE6 BS) fell 3.5 percent to 43.19 reais. The largest electricity distributor in Brazil’s southern region, known as Copel, reported fourth-quarter earnings that fell short of some analysts’ estimates.

Gol Linhas Aereas Inteligentes SA (GOLL4) (GOLL4 BS) gained 2.6 percent to 13.14 reais, the biggest jump on the Bovespa. Brazil’s second-largest airline by market value reported fourth- quarter profit of 54.3 million reais ($30 million), ahead of the average estimate for a net loss of 45 million reais among 10 analysts surveyed by Bloomberg.

Cia. Brasileira de Distribuicao Grupo Pao de Acucar (PCAR4 BS) gained 1.6 percent to 87.45 reais. Brazil extended tax cuts on appliances and reduced levies on other goods to boost consumption. The tax cuts may benefit Pao de Acucar, Brazil’s biggest retailer, Daniela Bretthauer, an analyst at Raymond James, wrote in a research note today.

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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