By Hugh Collins
June 1 (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 rose 1.4 percent to 3,043.38. In Brazil, preferred shares usually are the most-traded class of stock.
Chile
Vina Concha y Toro SA (CONCHA CC): Chile’s biggest wine exporter was rated “buy” in new coverage at Celfin Capital SA, which forecast a “favorable” 2009 grape harvest. The stock probably will rise to 1,226 pesos, analysts including Barbara Angerstein wrote in a note May 29. Vina Concha y Toro fell 1.2 percent to 1,025 pesos.
Cia. Sudamericana de Vapores SA (VAPORES CC): Latin America’s largest container ship company will sell an 18 percent stake worth as much as $360 million, La Segunda reported. The company began selling $130 million of new shares on May 29 in a sale expected to last until July 10, the newspaper said, citing Vice President Arturo Claro. Vapores fell 4.2 percent to 475 pesos.
Colombia
Bancolombia SA (BCOLO CB): Colombia’s central bank cut its benchmark interest rate to a record low of 5 percent today and signaled it’s ready to lower it further in an effort to ward off an extended recession as inflation eases. Bancolombia, Colombia’s biggest lender, slid 0.4 percent to 15,500 pesos.
Mexico
America Movil SAB (AMXL MM): Mexico’s economy will shrink 8.5 percent this year, the most since 1932, according to Goldman Sachs Group Inc. America Movil, the most heavily weighted stock on the Bolsa index, fell 3.1 percent to 24.98 pesos.
To contact the reporter on this story: Hugh Collins in Mexico City at Hcollins8@bloomberg.net
Last Updated: June 1, 2009 01:15 EDT
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