Bloomberg News

Brazilian Stock Movers: Gafisa, Cosan, and Vale Were Active

July 06, 2012

The following companies had unusual price changes in Sao Paulo trading. Stock symbols are in parentheses, and prices are as of the market close. Preferred shares are usually the most-traded class of stock.

The Bovespa (IBOV) Index fell 1.7 percent to 55,394.05.

Gafisa SA (GFSA3) (GFSA3 BS), the Brazilian homebuilder, fell 5.4 percent to 2.44 reais. The company received a subpoena from the U.S. Securities and Exchange Commission on June 14 requesting all documents used for financial statements as far back as Jan. 1, 2010. The company said today it filed 2010 and 2011 annual reports to the SEC.

Cosan SA Industria e Comercio (CSAN3) (CSAN3 BS), a renewable energy and infrastructure company, fell 0.2 percent to 31.20 reais after a company official said production in Brazil’s center south region will be lower than previously estimated.

Vale SA (VALE3) (VALE5 BS), fell 1.5 percent to 39.88 reais. The world’s largest iron-ore producer dropped as metals prices declined after a report showing slower-than-forecast job gains in the U.S. The Bloomberg Base Metals 3-Month Price Commodity Index fell 2.1 percent.

To contact the reporter on this story: Patricia Laya in New York at playa2@bloomberg.net

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


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