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Brazil Iron Ore Miner Zamin May Sell Shares in London, FT Says

Brazil Iron Ore Miner Zamin May Sell Shares in London, FT Says

Zamin Ferrous, a miner of iron ore in Brazil, is considering selling shares in London, the Financial Times reported.

Zamin may be valued at $2 billion to $2.5 billion, the FT said, citing an unidentified banker familiar with the company. Source

Related posts:

  1. Brazil Homebuilder Gafisa Plans to Sell 74 Million New Shares
  2. Iron Ore Price May Jump 32% in July Quarter, Japan Metal Says
  3. Construction of railroad instrumental to development of iron project in Bahia
  4. CISA urges Chinese Steelmakers to boycott iron ore imports
  5. Banco do Brasil shares slip as new shares debut

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This entry was posted on Sunday, July 25th, 2010 at 10:59 pm and is filed under Stock & Bond Market News. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

Brazil Homebuilders Rally After Rossi Profit Doubles

Brazilian real-estate companies rallied in Sao Paulo trading after Rossi Residencial SA said second-quarter profit more than doubled.

Rossi, the country’s sixth-biggest homebuilder by revenue, rose the most in a month, advancing 3.7 percent to 15.55 reais at 4 p.m. New York time. PDG Realty SA Empreendimentos & Participacoes, the fourth-biggest, surged 3.7 percent to 17.47 reais as the BM&FBovespa Real Estate Index rose 1.4 percent.

Net income at Rossi rose to 109 million reais ($61.5 million) from 51 million reais a year earlier, beating the average estimate of 81.4 million reais in a Bloomberg survey of five analysts.

“The continued improvement in Rossi quarterly results leads us towards a more constructive view on Rossi,” Bank of America Corp. analysts Carlos Peyrelongue and Fanny Oreng wrote in a note to clients. They rate the stock “neutral.”

Property developer BR Properties SA gained 1.1 percent to 13.95 reais and earlier touched 14.30 reais, a record high, after saying it bought, in partnership with Banco BTG Pactual SA, property in Rio de Janeiro for 680 million reais.

Source