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 0.8 percent to 54,001.44.
Gafisa SA (GFSA3) (GFSA3 BS) rose 8.5 percent to 2.69 reais, the highest price since May 28. The homebuilder that rebuffed an asset purchase offer from Sam Zell’s Equity International advanced for a second day after saying in a regulatory filing that it will acquire the 20 percent stake it doesn’t own in Alphaville Urbanismo SA, its unit focused on the high-income market, by purchasing 70.3 million shares at 5.11 reais each.
Usinas Siderurgicas de Minas Gerais SA (USIM5 BS) advanced 3.2 percent to 7.94 reais. The steelmaker is holding a meeting with local bondholders as it seeks a waiver on debt covenants.
Gol Linhas Aereas Inteligentes SA (GOLL4) (GOLL4 BS) rose 3 percent, the most in a month, to 8.16 reais. The Brazilian airline was raised to the equivalent of buy from hold at Raymond James. Analyst James Parker cited lower fuel prices.
TAM SA (TAMM4) (TAMM4 BS) fell 2.1 percent to 41.51 reais, the lowest since May 25, as a deadline loomed to tender shares for a swap that’s part of the Brazilian airline’s combination with Chile’s Lan Airlines SA (LFL) and investors sold before the stock is cut from a benchmark index.
Petroleo Brasileiro SA (PETR4) (PETR4 BS) fell 2.6 percent to 18.39 reais. Petrobras, as Brazil’s state-controlled oil producer is known, said in a statement on June 8 after the market closed its April output declined to the lowest since October 2010.
The offering, due in 2018, was increased from an initial
Markaz profits reach KD2.56m in Q1 2013
Kuwait Financial Centre (Markaz) announced a net profit of KD2.56m for the first quarter ending 31st March 2013, a net profit of 5 fils per share as compared with a net profit of KD2.82 during the sa
Arabtec wins $108m Saudi hospital contract
A subsidiary of Dubai-based contractor Arabtec Holding has won a SR404-million ($107.7 million) contract to build a hospital in Saudi Arabia, the company said in a statement on Saturday.