Axtel SAB, Cemex, Cyrela, Lojas Americanas: 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 for a sixth day, dropping 0.6 percent to 3,900.43. In Brazil, preferred shares usually are the most-traded class of stock.

Argentina

Telecom Argentina SA (TECO2 AF): Goldman Sachs Group Inc. raised its 12-month share-price forecast for Argentina’s second- largest phone company by 8.5 percent to 21.70 pesos, according to a note to clients. The stock gained 3.7 percent to 15.55 pesos.

Brazil

Retailers and homebuilders: Brazil’s national statistics agency is slated to report the July unemployment rate at 8 a.m. New York time. Cyrela Brazil Realty SA Empreendimentos e Participacoes (CYRE3 BS), the biggest homebuilder by revenue, dropped 1.8 percent to 22.31 reais. Lojas Americanas SA, the largest discount retailer, fell 0.8 percent to 14.14 reais.

Cia. de Concessoes Rodoviarias (CCRO3 BS): Brazil’s biggest toll-road operator agreed to buy Multivias Participacoes SA, which owns 27 percent of Rodovias Integradas do Oeste SA, for 342.3 million reais, according to a regulatory filing. CCR declined 0.6 percent to 38.70 reais.

Mexico

Axtel SAB (AXTELCPO MM): Goldman Sachs raised its 12-month share-price forecast for the Mexican phone company by 2.8 percent to 7.30 pesos. Axtel gained 1.7 percent to 7.04 pesos.

Cemex SAB (CEMEXCPO MM): The largest cement maker in the Americas was raised to “buy” from “hold” at Banco Santander after a “sharp correction” in the stock price.

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

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