Banorte, Cosan, Ecopetrol, Gruma: 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 gained 0.2 percent to 4,492.52.

Argentina

Banks: The unemployment rate fell to 7.3 percent in the fourth quarter, according to the median estimate in a Bloomberg survey. The National Statistics Institute reports the data at 11 a.m. New York time today.

Banco Hipotecario SA (BHIP AF) dropped 0.7 percent to 2.92 pesos. BBVA Banco Frances SA (FRAN AF) was unchanged at 16.6 pesos.

Brazil

Cosan SA Industria & Comercio (CSAN3 BS): Hedge-fund managers and other large speculators reduced the number of bets that sugar will rise in the week ended Feb. 15, according to U.S. Commodity Futures Trading Commission data. The world’s largest sugarcane processor fell 1.6 percent to 24.6 reais.

Petroleo Brasileiro SA (PETR4 BS): Brazil’s state- controlled oil company had 4.05 billion reais ($2.4 billion) last year in contracts and services where possible overpayment was detected by a federal court, newspaper O Globo reported, citing audit reports. Separately, Reuters reported the company will need $17 billion in "new money" through 2014, citing Chief Financial Officer Almir Barbassa. Petrobras, as the company is known, climbed 0.4 percent to 27.37 reais.

Colombia

Ecopetrol SA (ECOPETL CB): The government oil regulator said it will suspend contracts for oil exploration in a Caribbean archipelago of islands pending review by local environmental authorities. Colombia’s largest oil company fell 2.3 percent to 3,750 pesos.

Mexico

Banks: Mexico’s economy grew 4.5 in the fourth quarter from a year earlier, according to the median estimate in a Bloomberg survey. The national statistics agency releases the data today at 9 a.m. New York time.

Grupo Financiero Inbursa SAB (GFINBURO MM) slid 0.2 percent to 50.6 pesos. Grupo Financiero Banorte SAB (GFNORTEO MM) rose 1.6 percent to 56.53 pesos.

Gruma SAB (GRUMAB MM): Hedge-fund managers and other large speculators decreased the number of bets that corn will rise in the week ended Feb. 15, according to U.S. Commodity Futures Trading Commission data. The shares dropped 2.3 percent to 25.11 pesos.

-- Editor: Shiyin Chen

To contact the reporter on this story: Andres R. Martinez in Mexico City at amartinez28@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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