(Noticia em Inglês)
Brasil Ecodiesel Industria e Comercio de Biocombustiveis e Oleos Vegetais SA (ECOD3), the biodiesel maker owned by Spanish billionaire Enrique Banuelos, rose to a five-week high after shareholders approved the acquisition of closely held crop producer Vanguarda do Brasil SA.
Brasil Ecodiesel rose 4.7 percent to 67 centavos at the close of Sao Paulo trading at 4:15 p.m. New York time, the highest since Aug. 2.
“It’s a good deal for Brasil Ecodiesel, as the company will no longer depend so much on biodiesel-making and will be also a crop producer from now on,” Erick Hood, an analyst at SLW Corretora brokerage, said in a telephone interview. “Demand for commodities such as corn and soy is likely to remain high for a while, and Brasil Ecodiesel will benefit from that,” said Hood, who has a “buy” recommendation for the stock.
bloomberg.com»
Brasil Ecodiesel Industria e Comercio de Biocombustiveis e Oleos Vegetais SA (ECOD3), the biodiesel maker owned by Spanish billionaire Enrique Banuelos, rose to a five-week high after shareholders approved the acquisition of closely held crop producer Vanguarda do Brasil SA.
Brasil Ecodiesel rose 4.7 percent to 67 centavos at the close of Sao Paulo trading at 4:15 p.m. New York time, the highest since Aug. 2.
“It’s a good deal for Brasil Ecodiesel, as the company will no longer depend so much on biodiesel-making and will be also a crop producer from now on,” Erick Hood, an analyst at SLW Corretora brokerage, said in a telephone interview. “Demand for commodities such as corn and soy is likely to remain high for a while, and Brasil Ecodiesel will benefit from that,” said Hood, who has a “buy” recommendation for the stock.
bloomberg.com»