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Bolsa Mexicana, La Polar, Lupatech, Rossi: Latin Equity Preview

By Emily Schmall

Oct. 21 (Bloomberg) -- The following companies may have unusual price changes today in Latin American trading. Stock symbols are in parentheses and share prices reflect the previous close.

The MSCI Latin America Index fell 3.2 percent to 3,978.93. In Brazil, preferred shares usually are the most- traded class of stock.

Brazil

Brookfield Incorporacoes SA (BISA3 BS): The Brazilian real- estate developer formerly known as Brascan Residential Properties SA said it and shareholders are selling as much as 664.7 million reais ($378.8 million) of new and existing stock. The Rio de Janeiro-based builder and its investors are selling 97.8 million shares for 6.8 reais each. Brookfield fell 6.5 percent to 7.01 reais.

Lupatech SA (LUPA3 BS): Brazil’s biggest offshore oil- equipment provider asked for authorization from the nation’s securities regulator to sell depositary receipts in the U.S., according to a regulatory filing. Lupatech fell 3.8 percent to 29.58 reais.

Rossi Residencial SA (RSID3 BZ): The Brazilian homebuilder said fund manager Janus Capital Management LLC’s holding was diluted to 4.3 percent after a share sale this month. Rossi fell 4.8 percent to 13.22 reais.

Chile

Empresas La Polar SA (LAPOLAR CC): Chile’s fourth-largest retailer by market value had its 12-month share price estimate raised 42 percent to 3,400 pesos at Inversiones Security, analyst Paulina Rojas wrote in a note to clients, reiterating a “buy” rating on the basis of a recovery in earnings and expansion prospects. La Polar rose 0.8 percent to 2,761 pesos.

Mexico

Bolsa Mexicana de Valores SAB (BOLSAA MM): The operator of Latin America’s second-largest exchange said third-quarter net income declined 23 percent to 136 million pesos ($10.4 million). Third-quarter sales rose 17 percent, the company said in a statement filed after yesterday’s close. Bolsa Mexicana rose 0.4 percent to 16.67 pesos.

To contact the reporter on this story: Emily Schmall in Mexico City at Eschmall@bloomberg.net

Last Updated: October 21, 2009 03:03 EDT

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