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Braskem, Santos Brasil, Cemex, Ecopetrol: Latin Equity Preview

By Emily Schmall

July 6 (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 0.4 percent to 2,941.40. In Brazil, preferred shares usually are the most-traded class of stock.

Brazil

Braskem SA (BRKM5 BS): Latin America’s biggest petrochemicals producer is seeking to raise resins prices in Brazil by an average of 12 percent, the first increase this year, spokesman Nelson Letaif said July 3. Braskem rose 1.1 percent to 7.15 reais.

Santos Brasil Participacoes SA (STBP11 BS): A unit of Brazil’s largest container terminals operator won the right to operate a vehicle terminal in Santos for 25 years. Union Armazenagem e Operacoes Portuarias SA offered 220 million reais ($112.7 million) in an auction to operate the terminal, according to a July 3 regulatory filing. Santos rose 1.8 percent to 11.20 reais.

Colombia

Ecopetrol SA (ECOPETL CB): Colombia is seeking to increase production of biofuels made from soybean, corn and palm oil, President Alvaro Uribe said at a meeting of Brazilian and Colombian investors. Colombia’s state-controlled oil producer said last month it plans to invest $570 million in renewable energy sources. Ecopetrol fell 0.8 percent to 2,590 pesos, the biggest decline in two weeks.

To contact the reporter on this story: Emily Schmall in New York at eschmall@bloomberg.net.

Last Updated: July 6, 2009 01:46 EDT

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