June 16 (Bloomberg) -- 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 1.6 percent to 3,871.04. In Brazil, preferred shares usually are the most-traded class of stock.
Cosan SA Industria & Comercio (CSAN3 BS): The sugar-cane processor’s bonds are trading like investment-grade assets on speculation the world’s largest sugar-cane processor will complete a $12 billion joint venture with Royal Dutch Shell Plc. Cosan climbed 3.7 percent to 21.67 reais.
Gerdau SA (GGBR4 BS): Latin America’s biggest steelmaker was raised to “buy” from “hold” at Deutsche Bank AG, which said the company’s earnings will probably increase and it has a “positive strategy outlook.” Gerdau rose 1.8 percent to 25.59 reais.
Petroleo Brasileiro SA (PETR4 BS): CGGVeritas, the world’s largest seismic surveyor of oilfields, said it signed an agreement with Brazil’s government-controlled oil company known as Petrobras to work together to develop geophysics technologies. Petrobras lost 0.2 percent to 29 reais.
Banco de Credito & Inversiones (BCI CC): Chile’s third-largest bank by market value had profit of 78.7 billion pesos for the first five months, according to a statement posted on its website. It didn’t give a year-ago comparison. Banco de Credito lost 0.8 percent to 21,270 pesos.
Gruma SAB (GRUMAB MM): Mexico’s largest maker of corn flour for tortillas said the Venezuelan government took over its Demaseca unit in May and that it cannot “assure” that the government will not take over more of its operations. Gruma rose 2.4 percent to 21.04 pesos.
Grupo Palacio de Hierro SA (GPH1 MM): The Mexican retailer said it agreed to end its partnership with Chilean department store chain Ripley Corp. Grupo Palacio was unchanged at 57 pesos.
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