March 18, 2020 / 4:09 PM / 18 days ago

Brazil's Sao Paulo state governor orders closure of malls through April 30

SAO PAULO, March 18 (Reuters) - Brazil’s Sao Paulo state governor Joao Doria has ordered on Wednesday the closure of all shopping malls in Sao Paulo’s metropolitan region, Brazil’s largest, through April 30, in a push to fight the coronavirus pandemic.

His decree comes after some Brazilian mall operators took the initiative to reduce opening hours to avoid concentration of people. Shares in upscale mall company Iguatemi were trading down 16.4% after Doria’s announcement, while stocks of rivals Multiplan and BR Malls were falling 15% and 18%, respectively. (Reporting by Gabriela Mello)

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