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Bradesco, Homex, Magnesita, Vale: 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 0.5 percent to 4,415.24.


Banco Bradesco SA (BBDC4 BS): Brazil’s second-biggest bank by market value plans to buy back as many as 15 million of its shares during the next six months, according to a regulatory filing. Bradesco fell 1.2 percent to 31.7 reais.

Brasil Brokers Participacoes (BBRK3 BS): The provider of real-estate services plans to sell up to 200 million reais ($117.2 million) in new common shares, according to a regulatory filing. Brasil Brokers fell for the fourth day, declining 2.2 percent to 8.19 reais.

BM&FBovespa SA (BVMF3 BS): The operator of Latin America’s biggest securities exchange plans to invest as much as 255 million reais ($149.4 million) in 2011, according to a regulatory filing. The shares fell 1.1 percent to 12.82 reais.

Cetip SA - Balcao Organizado de Ativos & Derivativos (CTIP3 BS): The biggest clearinghouse plans to issue 900 million reais ($527.4 million) in local bonds maturing seven years from Dec. 29, according to a regulatory filing. The shares slipped 0.4 percent to 22.91 reais.

Magnesita Refratarios SA (MAGG3 BS): The maker of specialty tiles used in steel-making furnaces plans to sell as much as 425 million reais ($249 million) of new shares. The company will use the proceeds from the sale to reduce debt in bank loans, according to a regulatory filing. Magnesita fell 0.5 percent to 10.20 reais.

Vale SA (VALE5 BS): The world’s biggest exporter of iron ore concluded a public offer to purchase Vale Fertilizantes SA shares, buying 20,317 common shares for 23.50 reais each. Vale now holds 79 percent of Vale Fertilizantes total capital and 100 percent of its common shares, according to a regulatory filing. Vale declined for a fifth day, losing 0.1 percent to 49.8 reais.


Homebuilders and retailers: Mexico economists forecast gross domestic product will climb 5.1 percent this year, according to a survey from Citigroup Inc.’s Banamex unit. The economists expect 3.7 percent growth in 2011.

Desarrolladora Homex SAB (HOMEX* MM), Mexico’s largest homebuilder, fell 0.3 percent to 69.19 pesos. Corporacion GEO SAB de CV (GEOB MM), Mexico’s second-largest homebuilder, dropped 0.6 percent to 43.18 pesos.

Grupo Elektra SA (ELEKTRA* MM), the retail and banking company controlled by billionaire Ricardo Salinas, declined 0.2 percent to 519.53 pesos. Wal-Mart de Mexico SAB de CV (WALMEXV MM), Latin America’s largest retailer, fell 1.2 percent to 35.31 pesos.

To contact the reporter on this story: Jonathan J. Levin in Mexico City at

To contact the editor responsible for this story: David Papadopoulos at

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