Cemig, CSN, Pao de Acucar, Rossi: Brazilian Equity Movers

By Paulo Winterstein

Aug. 15 (Bloomberg) -- The following companies are having unusual price changes in Brazil trading. Stock symbols are in parentheses, and share prices are as of 9:20 a.m. New York time. Preferred shares are usually the most-traded class of stock.

The Bovespa index gained 0.1 percent to 55,199.89.

Banco do Brasil SA (BBAS3 BS) rose for a second day, adding 2 percent to 22.23 reais. Second-quarter profit for Latin America's largest bank by assets rose 53 percent from the year- earlier period to 1.64 billion reais ($1.01 billion), the Brasilia-based bank said in a statement yesterday on the Brazilian regulator's Web site. The result beat the 1.5 billion reais average estimate of six analysts surveyed by Bloomberg.

Cia. Brasileira de Distribuicao Grupo Pao de Acucar SA (PCAR4 BS) gained the most in a month adding 2.8 percent to 36.30 reais. Net sales at stores of Brazil's biggest food retailer open for more than a year rose 13 percent in July on rising demand for electronics. Net sales in all stores jumped 26 percent in July to 1.5 billion reais, Sao Paulo-based Pao de Acucar said in an e- mailed statement yesterday.

Cia. Energetica de Minas Gerais SA (CMIG4 BS) gained for a fourth day, adding 2.7 percent to 36.20 reais. Second-quarter profit at Brazil's largest combined electricity generator and distributor rose 16 percent to 599.3 million reais from 515 million reais a year earlier, according to a filing sent yesterday to Brazil's securities regulator. That's more than the 424.9 million reais average of eight analysts' estimates compiled by Bloomberg.

Cia. Siderurgica Nacional SA (CSNA3 BS) fell for the first time in three days, dropping 1.1 percent to 53.60 reais. The third-largest Brazilian steelmaker said in a regulatory filing yesterday that second-quarter net income rose 8.2 percent from a year earlier to 1.03 billion reais ($635 million). That's less than the 1.13 billion reais average of nine analysts' estimates compiled by Bloomberg. CSN, as the company is known, rose 1.5 percent to 54.19 reais.

Rossi Residencial SA (RSID3 BS) led gains on the index, adding 3.1 percent to 12.87 reais. Brazil's third-largest homebuilder showed ``strong margin recovery'' in the second quarter, putting Rossi ``on track'' to meet its forecast for the year, UBS AG analyst Guilherme Vilazante wrote in a note.

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