Gafisa, Petrobras, Unibanco, Usiminas: Brazil Equity Movers

Brazil's main stock index rose for the second 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 gained 1,211.32, or 1.9 percent, to 64.711.94 as of 8:29 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.

Cia. Vale do Rio Doce (VALE5 BS), the world's biggest iron-ore producer, rose 1.86 real, 3.5 percent, to 54.66 reais. BHP Billiton Ltd., the world's biggest mining company, said it offered to buy rival Rio Tinto Group, a proposal that was rejected.

Gafisa SA (GFSA3 BS) rose 2.73 reais, or 8.4 percent, the most in more than seven months, to 35.13 reais. Brazil's second-largest real estate company said earnings gained 12 percent in the third quarter to 30.9 million reais ($18 million) as lower borrowing costs spurred demand for homes.

Petroleo Brasileiro SA (PETR4 BS) gained the most in more than two years, adding 4.25 reais, or 6.1 percent, to a record 74.50 reais. Brazil's state-controlled oil company said today it estimates potential oil and gas reserves of 5 billion to 8 billion barrels in the offshore Tupi field in Brazil's Santos Basin.

Uniao de Bancos Brasileiros SA (UBBR11 BS) rose 33 centavos, or 1.3 percent, to 26.63 reais. Brazil's fourth-biggest non- government bank said in a regulatory filing third-quarter net income surged to 1.2 billion reais ($689 million) from 106 million reais a year earlier as record low interest rates encouraged consumers to spend more on credit.

Usinas Siderurgicas de Minas Gerais SA (USIM5 BS) rose 1.80 real, or 1.3 percent, to 137.30 reais. Third-quarter profit rose more than 6 percent form the year-ago period to 757.9 million reais ($437.8 million), Brazil's second-biggest steelmaker said today in a regulatory filing.
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