Bloomberg News

Brazilian Stock Movers: Marfrig, Itau Unibanco and Redecard

April 13, 2012

The following companies are having unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of 12:37 p.m. local time. Preferred shares are usually the most-traded class of stock.

The Bovespa Index dropped 1.5 percent to 62,126.18.

Marfrig Alimentos SA (MRFG3) (MRFG3 BS) fell 3.1 percent to 11.27 reais. Raymond James & Associates Inc. lowered its recommendation on the company to the equivalent of sell.

Itau Unibanco Holding SA (ITUB4) (ITUB4 BS) declined 2.6 percent to 32.10 reais, on concern it may sell its stake in Redecard SA (RDCD3) if shareholders don’t approve the lender’s plan to delist its shares. Redecard (RDCD3 BS), Brazil’s second-largest card- payment processor by market value, slipped 1.2 percent to 33.65 reais.

To contact the reporter on this story: Denyse Godoy in Sao Paulo at dgodoy2@bloomberg.net

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


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