Gafisa shares drop after company posts steep loss

SAO PAULO Mon Apr 2, 2012 9:18am EDT

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SAO PAULO (Reuters) - Shares of Brazilian homebuilder Gafisa (GFSA3.SA) tumbled as much as 8 percent in opening Monday trade after the company reported a steep loss for last year, when it struggled with delays, cancellations and cost overruns.

(Reporting by Brad Haynes; Editing by Gerald E. McCormick)

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