BUZZ-Shares of Brazilian retailers Magalu and Americanas up 10% due to sector rebound

The company will stop trading LAM3 or LAME4 on January 21 on B3 Stock Exchange.


Reuters | Updated: 20-01-2022 01:45 IST | Created: 20-01-2022 01:45 IST
BUZZ-Shares of Brazilian retailers Magalu and Americanas up 10% due to sector rebound

**Shares of Brazilian retail companies Magazine Luiza and Americanas rise more than 11% on Wednesday afternoon on signs of a short-term recovery in consumption in the country **Americanas' shares trading up 10.26%, at 33.31 reais

**Magazine Luiza's shares up 9%, at 6.42 reais **Analysts consulted by Reuters explained the rise seen in both companies as caused by a general economic recovery in Brazil after big share losses in 2021 due to the pandemic

**“The great impact generated by inflation, high interest rates and the consequent increase in the cost of credit, in addition to the great advance in the digital segment, which directly impacts the companies' margins, are reasons why the market readjusted the price of shares, which is being partially corrected in today's trading,” said Inside Research analyst Jessica Sprovieri. **Last month, Americanas announced a partnership simplification in order to improve its governance and societal structure. The company will stop trading LAM3 or LAME4 on January 21 on B3 Stock Exchange.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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