Equatorial, Itau, Petrobras, Vale, Vivo: Brazil Equity Movers

Brazil's main stock index gained for the first time in three days, led by state-controlled oil company Petroleo Brasileiro SA.

The Bovespa Index of the most-traded shares on the Sao Paulo exchange advanced 1,218.71, or 1.9 percent, to 64,178.26 as of 8:24 a.m. New York time.

The following are among the most active stocks in the Brazilian market today. In Brazil, the preferred share is usually the company's most-traded class of stock.

Banco Bradesco SA (BBDC4 BS), Brazil's second-biggest non- government bank, rose 1.34 real, or 2.4 percent, to 57.15 reais. Shares fell 3 percent in a selloff of bank shares yesterday, after Citigroup Inc. said it may write down $11 billion for bad debt. Banco Itau Holding Financeira SA (ITAU4 BS) rose 82 centavos, or 1.8 percent, to 47.17 reais. Brazil's biggest non-state bank said today third-quarter profit rose to 2.43 billion reais ($1.4 billion) from 71 million reais a year earlier. Uniao de Bancos Brasileiros SA (UBBR11 BS) rose 54 centavos, or 2.1 percent, to 26.65 reais. The country's sixth-largest bank fell 2.1 percent yesterday.

Cia. Vale do Rio Doce (VALE5 BS), the world's second-biggest nickel producer, rose for the first time in three days, adding 1.46 real, or 2.8 percent, to 53.16 reais. Metals including nickel rose on the London Metals Exchange.

Equatorial Energia SA (EQTL11 BS) rose 36 centavos, or 1.9 percent, to 19.80 reais. PCP Latin America Power Fund Ltd. agreed to buy GP Investimentos's stake in Equatorial, a Sao Luis, Brazil- based electricity holding company, for 204 million reais ($118 million). Equatorial said in a regulatory filing last yesterday that the transaction is a step toward reorganizing its capital structure and listing its shares on the Novo Mercado, a section of the Sao Paulo exchange with stricter governance rules.

Petroleo Brasileiro SA (PETR4 BS) rose 2.05 reais, or 3 percent, to 70.15 reais. Crude oil for December delivery rose as much as 2 percent on speculation that U.S. inventories declined for a third week, as refineries boosted operating rates to prepare for winter demand.

Vivo Participacoes SA (VIVO4 BS) rose 45 centavos, or 4.6 percent, to 10.15 reais. Brazil's largest mobile-phone company reported a third-quarter profit of 4.4 million reais ($2.5 million) yesterday, compared with a loss of 196.9 million reais a year earlier, after winning more customers with new phones.
worldtradeinvest.com