Copec, Eletrobras, Petrobras: 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 climbed 1.5 percent to 4,529.21.

Brazil

Batista-linked companies: Brazilian billionaire Eike Batista is negotiating with BNDESPar on loans for two companies he controls, Folha de S. Paulo reported, without saying where it obtained the information.

Batista is seeking a 600 million-real ($386 million) loan for energy company MPX Energia SA (MPXE3) (MPXE3 BS) and is seeking 2.7 billion reais of financing for a 3 billion-real shipyard by OSX Brasil SA (OSXB3) (OSXB3 BS) in Porto do Acu, the Sao Paulo-based newspaper said. MPX increased 1.3 percent to 39.50 reais. OSX retreated 2 percent to 440.80 reais.

Brasil Ecodiesel Industria e Comercio de Biocombustiveis e Oleos Vegetais SA (ECOD3) (ECOD3 BS): Brazil’s biggest biodiesel maker named Marcelo Passaglia Paracchini as chairman, according to a regulatory filing. The shares added 2.9 percent to 0.72 reais.

Centrais Eletricas Brasileiras SA (ELET6 BS): The Brazilian electricity company has handed in a proposal to Portuguese state holding company Parpublica about starting talks with an aim to buy 10 percent of Portuguese utility EDP-Energias de Portugal SA, Expresso reported, without saying how it obtained the information. Shares of the utility known as Eletrobras slipped 0.8 percent to 26.16 reais.

Cia. Brasileira de Distribuicao Grupo Pao de Acucar (PCAR4 BS): Carrefour SA’s board approved a plan to merge Brazilian assets with Pao de Acucar after the country’s development bank said it may not finance the deal if the parties can’t reach a “friendly” agreement. Shares of Brazil’s biggest retailer gained 1.2 percent to 72.99 reais.

Petroleo Brasileiro SA (PETR4) (PETR4 BS): Brazil’s state- controlled oil producer said it acquired 50 percent of a biodiesel plant in Brazil’s Rio Grande do Sul state. Petrobras, as the company is known, bought the stake from BSBIOS Industria & Comercio de Biodiesel Sul Brasil SA, according to a regulatory filing. The stock rose 0.1 percent to 23.75 reais.

Chile

Empresas Copec SA (COPEC) : Chile’s largest pulp exporter will create a unit to hold its mining assets, the company said in a statement on the website of Chile’s securities regulator. Copec agreed to inject as much as $108 million for the development of a coal project, the company said. Copec declined 0.3 percent to 8,823.60 pesos.

Mexico

Manufacturing: Mexico’s manufacturing index may have fallen to 53.4 in June, according to the median forecast of six economists surveyed by Bloomberg ahead of a report today from the Mexican Institute of Financial Executives, or IMEF.

Alfa SAB (ALFAA MM), the world’s largest producer of aluminum engine heads, gained 0.6 percent to 174.94 pesos. Industrias CH SAB (ICHB MM), the largest Mexican steelmaker, slipped 0.4 percent to 43.49 pesos.

To contact the reporter on this story: Bryan Gibel in New York at bgibel@bloomberg.net

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

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.