Bloomberg News

Brazil Stock Movers: Santander Brasil, Petrobras, SLC Agricola

March 29, 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 0.3 percent to 64,871.99.

Banco Santander Brasil SA (SANB11) (SANB11 BS) lost 1 percent to 17.02 reais. Brazilian banks declined on concern that a deepening debt crisis in Europe may hurt the global financial system. Moritz Kraemer, head of sovereign ratings at Standard & Poor’s, said yesterday that Greece may have to restructure its debt again. Banco do Brasil SA (BBAS3 BS), Latin America’s largest bank by assets, fell 2.1 percent to 26.36 reais.

Petroleo Brasileiro SA (PETR4) (PETR4 BS) fell 0.3 percent to 23.32 reais. The state-controlled oil company said production fell 1.1 percent in February from the previous month.

SLC Agricola SA (SLCE3) (SLCE3 BS) advanced 3.1 percent to 18.79 reais, a nine-month high. The agriculture company was raised to the equivalent of buy by analysts at Banco Itau BBA SA including Giovana Araujo, according to a research note yesterday.

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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