Fleury SA surged the most in three years after the Brazilian medical service provider’s controlling shareholder hired JPMorgan Chase & Co. to assess strategic alternatives for its stake in the company.
The Ibovespa sank to a two-month low as Banco do Brasil SA tumbled after cutting its estimate for interest earnings and Brazilian commodity producers fell amid concern the Federal Reserve will trim U.S. monetary stimulus.
The Ibovespa gained for the first time in four sessions as state-controlled Petroleo Brasileiro SA rallied after its chief executive officer said the company is asking the government to raise domestic fuel prices.
Brazil increased to 30 percent the combined stake foreigners can hold in Banco do Brasil SA, the state-controlled lender that’s Latin America’s biggest by assets, to boost liquidity and the share price.
Gol Linhas Aereas Inteligentes SA is spending more on jet fuel than any other airline its size in the Americas, spurring analysts to predict that Brazil’s tumbling currency will squelch a rebound in the stock.
Paranapanema SA, the refined copper producer that is Brazil’s best-performing small cap stock, anticipates boosting profit by expanding capacity to meet demand for air conditioners and solar power equipment.