Bloomberg News

Brazilian Stock Movers: Copel, OGX Petroleo, Petrobras, Usiminas

April 03, 2012

The following companies are having unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of 11:32 a.m. local time. Preferred shares are usually the most-traded class of stock.

The Bovespa (IBOV) Index fell 0.4 percent to 64,987.34.

Cia. Paranaense de Energia (CPLE6 BS) slid 0.6 percent to 44.09 reais. The electricity distributor known as Copel was lowered to the equivalent of hold at Banco BTG Pactual SA.

OGX Petroleo & Gas Participacoes SA (OGXP3) (OGXP3 BS) dropped 4.6 percent to 14.50 reais, and Petroleo Brasileiro SA (PETR4) (PETR4 BS) declined 0.9 percent to 23.02 reais as the oil companies followed crude lower. Oil for May delivery fell as much as 1.1 percent on the New York Mercantile Exchange as a Bloomberg survey showed the Energy Department will probably say tomorrow that U.S. crude stockpiles increased to the highest level since August.

Usinas Siderurgicas de Minas Gerais SA (USIM3 BS) sank 3.1 percent to 19.48 reais. Techint Group won’t need to extend its offer for a voting stake in the steelmaker to minority shareholders after the country’s security regulator, or CVM, concluded that the transaction doesn’t change the controlling block of Usiminas. The ruling was posted on the CVM’s website.

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


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