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Grupo Mexico, ALL, Grendene: Latin America Equity Preview

By Telma Marotto

Aug. 4 (Bloomberg) -- The following stocks may make significant gains or losses in Latin America today. Stock symbols are in parentheses after company names and stock prices are from the last session.

Mexico

Grupo Mexico SA (GMEXICOB MM): Mexican miners at Grupo Mexico, the country's largest copper producer, will stop work for one day as a show of support for a strike at the company's Asarco unit. About 4,000 unionized miners will halt production Aug. 12 at the company's copper mines in Cananea, Nacozari and Agua Prieta unless the Asarco strike is resolved, the union said in an e-mailed statement that was confirmed by union spokeswoman Consuelo Aguilar yesterday. On July 1, 1,500 Asarco workers went on strike over wages, the statement said. The shares rose 10 centavos, or 0.5 percent, to 19.37 pesos.

America Movil SA (AMXL MM): Latin America's biggest mobile- telephone company said it bought Chilean wireless operator Smartcom from Endesa SA of Spain for $472 million Aug. 2. Shares of the company controlled by Carlos Slim, the world's fourth riches man according to Forbes, fell 24 centavos, or 2 percent, to 11.71 pesos.

Brazil

America Latina Logistica SA (ALLL4 BS): Latin America's largest railroad operator, which is known by its acronym ALL, may say today that its profit fell 5.6 percent in the second quarter to 42.6 million reais, said Felipe Leal, an analyst with Merrill Lynch & Co., in a report dated Aug. 1. The stock rose 20 centavos, or 1.5 percent, to 13.20 reais.

Grendene SA (GRND3 BS): Brazil's largest shoemaker may say today that its profit fell 43 percent in the second quarter to 14 million reais, Gustavo Hungria and Guilherme Arruda, analysts with Banco Pactual SA, wrote in a July 19 report. ``Grendene should report weak second-quarter results, in light of continuously tough environment in both the domestic and exports markets,'' they wrote. The stock rose 9 centavos, or 0.6 percent, to 16.44 reais.

To contact the reporters on this story: Telma Marotto in Sao Paulo at tmarotto1@bloomberg.net; Patrick Harrington in Mexico City at pharrington8@bloomberg.net

Last Updated: August 4, 2005 00:04 EDT

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