Brasil Foods reaches record stock trading after Warren Buffett invests
Shares climbed 2.6% to 29.45 reais
Poultry exporter Brasil Foods SA reached its highest stock value ever in Sao Paulo trading after Warren Buffett's Berkshire Hathaway Inc. began buying shares in the company.
Brasil Foods climbed 74 centavos, or 2.6%, to 29.45 reais as of 9:37 a.m. EST. Earlier, it touched 29.98 reais, the highest since the company started trading in 1997. "The speculation is that Buffett is seeking to have 5% of the company," said Fausto Gouveia, who helps manage 270 million reais in stocks at Legan Administração de Recursos. "Whoever is short on this stock, is buying shares now."