By Paulo Winterstein and [bn:PRSN=1] William Freebairn []
Aug. 20 (Bloomberg) -- The following companies may have unusual price changes in Latin America trading. Stock symbols are in parentheses, and share prices are from the previous close. Preferred shares are usually the most-traded class of stock in Brazil.
The MSCI Latin America Index rose 0.2 percent to 3,827.31.
Argentina
Molinos Rio de la Plata SA (MOLI AF): Argentina's July industrial output rose at the fastest pace in six months, led by higher food production after farmers ended four months of protests and lifted roadblocks in the country. Food production rose 8.5 percent in July from a year earlier, led by an increase of 20.5 percent in cereal and oilseed milling, the National Statistics Institute reported yesterday. Molinos, which makes soybean oil and other food products, was unchanged at 7.25 pesos.
Brazil
Banco Nossa Caixa SA (BNCA3 BS): The bank controlled by the state of Sao Paulo hired JPMorgan Chase & Co. and Morgan Stanley to advise on takeover talks with Banco do Brasil SA. JPMorgan was hired to prepare a valuation of the bank, while Morgan Stanley will give the so-called ``fairness opinion,'' Sao Paulo-based Nossa Caixa said in a regulatory filing yesterday. Nossa Caixa gained 1 percent to 40.40 reais.
Porto Seguro SA (PSSA3 BS): Brazil's fourth-largest insurance company was cut to ``hold'' from ``buy'' at Banco Santander SA on the outlook for lower earnings and increased competition. The company's ``weak'' first-half profit led analyst Boris Molina to lower his profit estimates for Porto Seguro. Banks are also ``intensifying'' competition by offering auto insurance, Molina wrote in a note to investors yesterday. Porto Seguro added 0.6 percent to 16.99 reais.
Mexico
Grupo Aeroportuario del Sureste SAB (ASURB MM): Australia's Macquarie Airports said it bought a 5.6 percent stake in Mexico's second-largest non-state airport operator. Asur, as the Mexican company is known, has a ``strategic market position'' and an ``attractive'' price, Macquarie said in a presentation filed with the Australian Stock Exchange yesterday. Asur rose 5.4 percent to 48.79 pesos.
To contact the reporters on this story: William Freebairn in Mexico City at wfreebairn@bloomberg.net.
Last Updated: August 20, 2008 00:01 EDT
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