Bradesco, Ripley, Telmex, Banorte: 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 1.4 percent to 4,569.09.

Brazil

Banco Bradesco SA (BBDC4) (BBDC4 BS): Banco Espirito Santo SA and the ESAF - Sociedade Gestora de Fundos de Investimento Mobiliarios SA fund are selling a 5.4 percent stake of Banco Bradesco SA’s common shares for 2.8 billion reais ($1.8 billion), according to a regulatory filing. Bradesco shares dropped 2.4 percent to 31.08 reais.

Banco Panamericano SA (BPNM4 BS): The lender named Jose Luiz Acar Pedro chairman, according to a regulatory filing. The stock dropped 1.6 percent to 5.51 reais.

Bematech SA (BEMA3) (BEMA3 BS): The software developer named Cleber Pereira de Morais its new chief executive officer, according to a regulatory filing. The shares rose 0.3 percent to 7.95 reais.

Localiza Rent a Car SA (RENT3) (RENT3 BS): The car-rental company approved the issue of up to 500 million reais in local bonds, according to a regulatory filing. The shares retreated 1.9 percent to 26.30 reais.

Lojas Renner SA (LREN3 BS): The clothing retailer reported first-quarter net income of 47.6 million reais, up 29 percent from the same period last year, according to a regulatory filing. The shares retreated 2.3 percent to 56.46 reais.

Petroleo Brasileiro SA (PETR4) (PETR4 BS): Brazil’s state- controlled oil company will import an additional 1 million barrels of gasoline in May, Agencia Estado reported, citing the company’s head of refining, Paulo Roberto Costa.

Separately, Petrobras, as the company is known, said it discovered oil in the 6-AB-119D-RJS well in the Albacora field in the Campos Basin, according to a regulatory filing. The stock slipped 1.1 percent to 25.45 reais.

Vale SA (VALE3) (VALE5 BS): The Brazilian miner that announced the ouster of its chief executive amid government criticism agreed to buy a stake in a hydro-power project in the Amazon and invest about 2.3 billion reais ($1.5 billion). The shares fell 0.5 percent to 46.05 reais.

Chile

Ripley Corp SA (RIPLEY) : Chile’s third-largest department-store operator plans to invest a total of $950 million in the next three years, Chief Financial Officer Juan Diuana said. The shares gained 1.5 percent to 609 pesos.

Inversiones Aguas Metropolitanas SA (IAM) : The controlling shareholder of water utility Aguas Andinas SA reported first-quarter profit of 18.5 billion pesos ($40 million). The stock rose 0.1 percent to 756 pesos.

Colombia

Grupo de Inversiones Suramericana SA (GRUPOSUR) : The parent company of Colombia’s largest bank said its first-quarter net income was 75.8 billion pesos ($43 million). The shares fell 0.6 percent to 36,780 pesos.

Mexico

Grupo Financiero Banorte SAB (GFNORTEO MM): Mexico’s third- largest bank by outstanding loans said first-quarter net income rose 15 percent to 1.8 billion pesos ($156 million), as the company expanded loans to local governments and corporations. The shares dropped 0.9 percent to 56.96 pesos.

Grupo Financiero Inbursa SAB (GFINBURO MM): The financial services firm controlled by billionaire Carlos Slim said first- quarter net income rose to 2.02 billion pesos. The stock declined 1 percent to 60.01 pesos.

Telefonos de Mexico SAB (TELMEXL MM): The nation’s largest land-line telephone company said first-quarter profit dropped 17 percent to 3.76 billion pesos. The shares slid 1.7 percent to 10.82 pesos.

To contact the reporter on this story: Crayton Harrison in Mexico City at tharrison5@bloomberg.net; Jonathan J. Levin in Mexico City at jlevin20@bloomberg.net

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

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