Bematech, CSN, Paranapanema, Telemar: Brazilian Equity Movers

By Paulo Winterstein

Aug. 22 (Bloomberg) -- The following companies are having unusual price changes in Brazil trading. Stock symbols are in parentheses, and share prices are as of 9:28 a.m. New York time. Preferred shares are usually the most-traded class of stock.

The Bovespa index rose 0.9 percent to 56,415.94.

Bematech Industria & Comercios de Equipamentos Eletronicos SA (BEMA3 BS) jumped the most this month, adding 4.6 percent to 7.80 reais. The Brazilian maker of business software and hardware plans to repurchase up to 2.7 million voting shares, or 8.6 percent of outstanding stock, during the next year, Sao Jose dos Pinhais-based Bematech said in a regulatory filing yesterday.

Cia. Siderurgica Nacional SA (CSNA3 BS) gained to the highest in three weeks, rising 2.7 percent to 56.50 reais. Nippon Steel Corp., JFE Holdings Inc. and a Japanese trading company are bidding for the Namisa iron ore unit of CSN, Reuters reported, citing unidentified people in the industry. The transaction may be worth $10 billion, the report said.

Duratex SA (DURA4 BS) gained to the highest in almost two weeks, adding 3.1 percent to 24.64 reais. The maker of bathroom fixtures and wood products for the construction industry should see ``attractive'' profit growth through 2010, UBS AG said in a note to investors.

Paranapanema SA (PMAM3 BS) gained to the highest in two weeks, advancing 1.8 percent to 5.11 reais. The Brazilian copper and tin producer said Banco UBS Pactual SA and Banco Santander SA each acquired a 12 percent stake. The banks bought 22.2 million voting shares each, following a June 2007 agreement between the companies, Paranapanema said in a statement yesterday.

Telemar Norte Leste SA (TMAR5 BS) rose for a third day, capping its longest rally in a month after rising 1.7 percent to 87.71 reais. The operating unit of Brazil's biggest fixed-line phone company will pay stockholders 3.9 billion reais ($2.42 billion) in extraordinary dividends by Sept. 19. The dividend payment will be discussed in a board meeting on Aug. 28, the Rio de Janeiro-based company said in a filing posted yesterday on the Web site of Brazil's securities agency.

To contact the reporter on this story: Paulo Winterstein in Sao Paulo at pwinterstein@bloomberg.net.