By Paulo Winterstein
Dec. 5 (Bloomberg) -- The following companies are having unusual price changes in Brazil trading. Stock symbols are in parentheses, and share prices are as of 8:16 a.m. New York time. Preferred shares are usually the most-traded class of stock.
The Bovespa index fell 2 percent to 34,411.36.
Aracruz Celulose SA (ARCZ6 BS) fell 1.6 percent to 1.83 reais, the first drop in three days. The world’s largest producer of eucalyptus pulp denied reports it received a new offer for the 28 percent stake Grupo Votorantim wants to buy. Aracruz didn’t receive any further information from Votorantim, Brazil’s largest industrial group, or Arapar SA, according to a statement posted on the Web site of CVM, Brazil’s securities regulator. Votorantim Celulose & Papel SA (VCPA4 BS) fell 2.4 percent to 12.90 reais.
Cia. Vale do Rio Doce (VALE5 BS) slid 2.8 percent to 21.35 reais, the lowest price for the world’s biggest iron-ore producer in almost two weeks. The UBS Bloomberg CMCI industrial metals index dropped for a fifth day, falling to the lowest in more than three years. MMX Mineracao & Metalicos SA (MMXM3 BS), the mining company controlled by Brazilian billionaire Eike Batista, decreased 2.6 percent to 3 reais.
Lojas Renner SA (LREN3 BS) lost 2.1 percent to 12.92 reais. Brazil’s biggest publicly traded clothing retailer will likely see slowing sales and a “challenging” 2009 as consumers turn “skeptical” about discretionary spending, wrote Deutsche Bank AG analyst Reinaldo Santana. He cut his 2009 share-price estimate for Renner by 35 percent to 17 reais.
To contact the reporter on this story: Paulo Winterstein in Sao Paulo at pwinterstein@bloomberg.net.
Posts
No comments:
Post a Comment