Banco Patagonia, E.CL, Petrobras, Vale, Vivo: Latin America Equity Preview

The following companies may have unusual price changes in Latin American trading. Stock symbols are in parentheses and share prices reflect the previous close.

The MSCI Latin America Index fell 2.3 percent to 3,682.45. In Brazil, preferred shares usually are the most-traded class of stock.

Argentina

Banco Patagonia SA (BPAT AF): The Buenos Aires-based lender will pay a dividend of 31.2 centavos a share to holders of record June 10. The payment is exempt from capital gains tax, it wrote in a statement posted on the Buenos Aires exchange’s website. Patagonia closed unchanged at 4.75 pesos.

Brazil

Petroleo Brasileiro SA (PETR4 BZ): Repsol YPF said it hasn’t found enough oil at an offshore well, in which Petrobras has a stake, to make it commercially viable. Petrobras fell 3.2 percent to 28.65 reais.

Vale SA (VALE5 BZ): The world’s biggest exporter of iron ore said it paid $92 million to increase its stake in the Belvedere project in Australia. Vale now owns 76 percent of the coal project. The company fell 2.1 percent to 42 reais.

Vivo Participacoes SA (VIVO4 BZ): Telefonica SA raised its bid for Portugal Telecom SGPS SA’s stake in the venture that controls Vivo to 6.5 billion euros ($7.95 billion). Portugal Telecom says it will put the offer to a vote by shareholders. Vivo rose 2.3 percent to 51.12 reais.

Chile

E.CL SA (ECL CC): Northern Chile’s biggest electricity generator, formerly known as Edelnor, was reiterated “buy” at Celfin Capital, which cited the prospect of higher and more stable prices. E.CL rose 1.1 percent to 930.05 pesos.

Mexico

America Movil SAB (AMXL MM): Mexico finished the first phase of bidding in a wireless-airwave auction yesterday. America Movil, Latin America’s largest wireless carrier, fell 2.2 percent to 30.95 pesos.

To contact the reporter on this story: Alexander Cuadros in Sao Paulo at acuadros@bloomberg.net

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