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Aluar, Cosan, Gerdau, Isagen: Latin America Equity Preview

Oct. 25 (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 fell 0.1 percent to 4,447.31. In Brazil, preferred shares usually are the most-traded class of stock.

Morgan Stanley cut Latin America’s rating to “underweight” in the brokerage’s global emerging markets model portfolio and raised Asia to “overweight.” Morgan Stanley lowered its recommended weighting for Brazil to “equal-weight” from “overweight” and Mexico to “underweight” from “equal-weight,” while Chile was upgraded to “equal-weight.”

Argentina

Aluar Aluminio Argentino SAIC (ALUA AF): Argentine industrial output rose 10.1 percent in September from a year earlier, the national statistics institute said. The nation’s largest aluminum producer added 0.2 percent to 4.21 pesos.

Brazil

Cosan SA Industria & Comercio (CSAN3 BZ): The world’s biggest sugar-cane processor said its net sales rose 32 percent to 4.7 billion reais in the second fiscal quarter, according to a regulatory filing.

Sugar traders in New York increased their bets that the commodity will rise, according to the U.S. Commodity Futures Trading Commission data. Speculative long positions, or bets prices will rise, outnumbered short positions by 160,660 contracts on ICE Futures. The stock fell 1.6 percent to 26.1 reais.

Gerdau SA (GGBR4 BS): Brazil’s tax agency said it will reduce imports of steel that may have been priced below the cost of raw materials. Latin America’s largest steelmaker rose 0.5 percent to 20.61 reais.

Colombia

Isagen SA (ISAGEN CB): The state-controlled power producer plans to sell 400 billion pesos ($218.7 million) of bonds in Colombia next month, the company said in a regulatory filing. The company plans to use the money to finance Sogamoso hydroelectric project. The shares were unchanged at 2,670 pesos.

Peru

Banco Continental SA (CONTINC1 PE): The next president of Peru is unlikely to change the nation’s currency economic policies after elections in April, Goldman Sachs Group Inc. said. The shares of the local unit of Banco Bilbao Vizcaya Argentaria SA rose 1.2 percent to 8.65 soles.

To contact the reporter on this story: Andres R. Martinez in Mexico City at amartinez28@bloomberg.net

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

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