Megacable, Petrobras, Walmex: 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 0.4 percent to 4,307.31.

Brazil

Brazil Pharma SA (BPHA3 BS): The pharmacy chain controlled by Banco BTG Pactual SA was rated “outperform” in new coverage at Raymond James & Associates Inc. The brokerage has a 12-month share-price estimate of 20 reais. The shares rallied 3.7 percent to 15.29 reais.

Gol Linhas Aereas Inteligentes SA (GOLL4) (GOLL4 BS): Brazil’s second-biggest airline by market value was cut to “hold” from “buy” at Banco Santander SA. The brokerage lowered its share- price estimate to 15 reais from 26 reais. The stock sank 22 percent to 12 reais.

Petroleo Brasileiro SA (PETR4) (PETR4 BS): The state-controlled oil company said it finished drilling a well in the area of the offshore Guara field, located in the Santos Basin. Preliminary analysis of the 3-SPS-82A well shows lateral continuation of the reservoir, Petrobras said in a regulatory filing.

Separately, Italy’s Eni SpA said it sold natural gas distributor Gas Brasiliano Distribuidora SA to Petrobras for about $271 million. Shares of Petrobras were unchanged at 23.50 reais.

Chile

Empresas La Polar SA (LA POLAR CC): The Chilean department store operator appointed Patricio Lecaros as chief executive officer. Lecaros will begin Aug. 8, according to a statement on the Chilean securities regulator’s website. The shares surged 8.4 percent to 510.30 pesos.

Mexico

Retail: Mexico’s central bank will announce June remittances today. Money sent from workers living outside Mexico may have totaled $2.01 billion in the period, according to the median estimate of four economists surveyed by Bloomberg.

Wal-Mart de Mexico SAB (WALMEXV MM), Latin America’s largest retailer, rose 1.8 percent to 32.38 pesos. Grupo Elektra SA (ELEKTRA* MM), the retail and banking company controlled by billionaire Ricardo Salinas, gained 4 percent to 854.93 pesos.

Megacable Holdings SAB (MEGACPO MM): The company will offer the content from its premium package, including movies, series and other programming, over the internet, the company said. Subscribers to Megacable’s Moviecity service will have online access to content, according to a statement to Mexico’s stock exchange. The shares added 0.6 percent to 27.92 pesos.

Peru

Southern Copper Corp. (SCCO) : The largest producer of the metal in Peru and Mexico said second-quarter profit more than doubled to $658 million, or 78 cents a share. Profit, excluding items, was expected to be 74 cents a share, according to the average estimate of nine analysts in a Bloomberg survey. The stock last traded in Lima on July 27 at $35.60.

To contact the reporters on this story: Bryan Gibel in New York at bgibel@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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