Brazil Stock Movers: Brasil Foods Rises; Tele Norte, Vale Drop

The following companies are having unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of 10:10 a.m. New York time. Preferred shares are usually the most-traded class of stock.

The Bovespa Index lost 0.4 percent to 61,943.74.

BRF Brasil Foods SA (BRFS3 BS), the world’s biggest poultry exporter, gained 1.8 percent to 24.92 reais. Brasil Foods will hold talks with members of the country’s antitrust regulator to seek approval for its acquisition of Sadia SA after a ruling was postponed today and two of the agency’s five commissioners said last week that the deal should be blocked. Wilson Mello, the company’s vice-president for corporate affairs, made the comments to reporters in Brasilia today.

Tele Norte Leste Participacoes SA (TNLP3 BS) fell 2 percent to 27.78 reais. The phone company was cut to “underweight” from “neutral” at JPMorgan Chase & Co.

Vale SA (VALE3) (VALE5 BS) dropped 1.1 percent to 43.10 reais. The world’s largest iron-ore producer followed metals prices lower.