Brasil Brokers, CSN, Gerdau, Petrobras: Brazil Equity Movers

By Paulo Winterstein

Sept. 18 (Bloomberg) -- The following companies are having unusual price changes in Brazil trading. Stock symbols are in parentheses, and share prices are as of 9:21 a.m. New York time. Preferred shares are usually the most-traded class of stock.

The Bovespa index added 1.6 percent to 46,629.18.

Brasil Brokers Participacoes (BBRK3 BS) gained the most this month, adding 6 percent to 5.30 reais. The provider of real estate services that agreed last month to buy the brokerage unit of Abyara Planejamento Imobiliario SA may buy back up to 4.6 percent of outstanding shares in the next year. The board of directors approved a plan to buy as many as 3.5 million shares, Brasil Brokers said in a regulatory filing yesterday.

Cia. Vale do Rio Doce (VALE5 BS) gained for the second time in three days, adding 2.3 percent to 32.95 reais. Commodity markets are ``oversold'' and the ``bull cycle'' for energy and raw materials producers isn't over, according to Goldman Sachs Group Inc. strategists led by Allison Nathan. Vale is the world's biggest iron-ore producer. Gerdau SA (GGBR4 BS), Latin America's biggest steelmaker, added 2.7 percent to 22.80 reais. Cia. Siderurgica Nacional SA (CSNA3 BS), Brazil's third-biggest steelmaker, rose 2.3 percent to 44.77 reais.

Petroleo Brasileiro SA (PETR4 BS), Brazil's state-controlled oil company, gained for the second time in three days, rising 3.5 percent to 30.50 reais. Crude oil rose above $100 a barrel as the dollar extended its slump against the euro, enhancing the appeal of commodities as a currency hedge.

Votorantim Celulose & Papel SA (VCPA4 BS) gained 1.5 percent to 31.63 reais. Brazil's third-largest pulp producer was raised to ``buy'' from ``hold'' at Deutsche Bank AG.

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