Besalco, Cielo, Itausa, Repsol, Salfacorp: Latin America Equity Preview

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 1.7 percent to 3,704.89. In Brazil, preferred shares usually are the most-traded class of stock.

Argentina

Repsol YPF SA (REP AR): Spain’s biggest oil company may raise about $3 billion as early as July from the sale of a 20 percent stake in its Argentine YPF SA unit through a stock offering in Buenos Aires and New York, said Sebastian Eskenazi, chief executive officer of the unit. Repsol rose 2.5 percent to 81 pesos.

Brazil

Cielo SA (CIEL3 BZ): Brazilian Justice Minister Luiz Paulo Barreto said the government will ask the card-payment processors to reduce fees charged to retailers. Cielo, Brazil’s biggest card-payment processor by market value, tumbled 14 percent to 15.5 reais. Redecard SA (RDCD3 BZ), the second largest, fell 11 percent to 28.29 reais.

Itausa - Investimentos Itau SA (ITSA4 BS): The owner of Brazil’s biggest bank by market value is buying 56.5 million common shares, or 2.5 percent, of its unit Itau Unibanco Holding SA from Bank of America Corp. Shares slumped 3 percent to 11.22 reais.

Chile

Besalco SA (BESALCO CC): The Santiago-based engineering and construction company said first-quarter profit jumped 66 percent. Net income rose to 2.08 billion pesos from 1.25 billion pesos a year earlier, the company said in a statement on the securities regulator’s website. Besalco rose 0.3 percent to 480.29 pesos.

Salfacorp SA (SALFACOR CC): Chile’s largest builder by sales reported first-quarter profit of 2.22 billion pesos ($4.07 million) from a loss of 7.72 billion pesos a year earlier. The stock was rated “buy” in new coverage at Corp Group, which cited reconstruction spending after February’s earthquake. Salfacorp probably will rise to 1,270 pesos, Corp Group’s brokerage unit wrote in a note to clients. Shares rose 2.7 percent to 1,099 pesos.

To contact the reporters on this story: Nathan Gill in Quito at ngill4@bloomberg.net James Attwood at jattwood3@bloomberg.net

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