America Movil, Bradesco, 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 rose 2.2 percent to 3,840.27.

Brazil

Banco Bradesco SA (BBDC4) (BBDC4 BS): The bank consolidation in Brazil is “almost over”, Banco Bradesco Chairman Lazaro Brandao told reporters in Sao Paulo yesterday. The shares climbed 1.5 percent to 26.60 reais.

Banco Santander Brasil SA (SANB11 BS): The Brazilian unit of Madrid-based Santander SA said Chairman Fabio Barbosa will quit next month. The shares declined 2.5 percent to 13.91 reais.

Cia. Siderurgica Nacional SA (CSNA3 BS): The steelmaker known as CSN issued 1.15 billion reais ($720 million) of local bonds in Brazil maturing on July 20, 2019, the company said in a regulatory filing. Proceeds will be used for working capital, CSN said. The stock jumped 6.3 percent to 14.75 reais.

Petroleo Brasileiro SA (PETR4) (PETR4 BS): Brazil’s state- controlled oil producer may reach oil at its offshore Franco well within “weeks,” the company’s pre-salt production manager, Jose Formigli, said yesterday at an event in Rio de Janeiro. Formigli also said the company plans to start drilling at its Jupiter deepwater field by the end of the year. The shares advanced 2.6 percent to 20.16 reais.

Usinas Siderurgicas de Minas Gerais SA (USIM5) (USIM5 BS); Brazil’s second-largest steelmaker was cut to “underweight” from “equalweight” at Barclays Capital. The brokerage has a share- price estimate of 11 reais. The stock rallied 6.3 percent to 13.50 reais.

Mexico

America Movil SAB (AMXL MM): Tim Participacoes SA topped America Movil last month to become the second-largest operator in Brazil, Latin America’s biggest wireless market. Tim had 25.8 percent of mobile-phone subscriptions in July, compared with 25.5 percent for America Movil’s Claro unit, according to data released yesterday by Brazil’s telecommunications agency, known as Anatel. America Movil stock rose 1.4 percent to 14.86 pesos.

Industrias Bachoco SAB (BACHOCOB MM): Bachoco agreed with Grupo OSIG to buy the assets of Trosi de Carnes SA in Monterrey, according to a PRNewswire statement. The stock fell 2.4 percent to 22.08 pesos.

Maxcom Telecomunicaciones SAB (MAXCOMCP MM): The company was downgraded to CCC+ from B- by Standard & Poor’s, according to an e-mailed statement. The shares gained 1.5 percent to 3.45 pesos.

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

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

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