Banorte, Bradesco, Copec, Vale: 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 1 percent to 4,497.87. In Brazil, preferred shares usually are the most-traded class of stock.


Banco Bradesco SA (BBDC4 BZ): Brazil’s second-largest bank by market value reports third-quarter results before markets open. Bradesco may report earnings per share on an adjusted basis of 44 cents, according to the mean estimate of five analysts surveyed by Bloomberg. The shares gained 2 percent to 36.90 reais.

Petroleo Brasileiro SA (PETR4 BS): Executives of Brazil’s state-controlled oil company will speak to reporters in Rio de Janeiro at 1 p.m. New York time about the company’s plan for oil and gas output at the Tupi field, the largest oil discovery in the Americas since 1976. The shares rose 5.2 percent to 25.85 reais.

Vale SA (VALE5 BZ): The world’s largest iron-ore mining company may report third-quarter per-share profit of $1.03 on an adjusted basis, according to the average estimate of 13 analysts in a Bloomberg survey. The report is expected after the market close in Sao Paulo. The shares gained 1.2 percent to 32.84 reais.

Vivo Participacoes SA (VIVO4 BZ): The telecommunications regulator published terms for its auction of H band frequency, according to an e-mailed statement. The bids will be received on Dec. 9 and evaluated Dec. 14, the regulator said. The shares rose 2.5 percent to 50 reais.


Embotelladora Andina SA (ANDINAB CI): Chile’s largest Coca-Cola bottler reported third-quarter net income of 18.3 billion pesos ($37.2 million), the company said in an e-mail statement. The shares increased 0.6 percent to 2,384 pesos.

Empresas Copec SA (COPEC CI): A unit of Chile’s largest forestry company approved the construction of a $110 million wood panel plant in southern Chile’s Maule region, according to a statement posted on the website of Chile’s securities regulator. The shares rose 1.1 percent to 9,046.8 pesos.

Lan Airlines SA (LAN CI): Net income in the third quarter more than doubled to $106 million, Latin America’s largest air carrier by market value said in a statement posted on the website of the securities regulator. The shares gained 1.1 percent to 14,933 pesos.


Almacenes Exito SA (EXITO CB): The nation’s largest publicly traded retailer reported third-quarter profit of 36.9 billion pesos ($20.1 million), the company said in a regulatory filing. The shares fell 1 percent to 22,960 pesos.


America Movil SAB (AMXL MM): Latin America’s largest mobile phone company reports third-quarter earnings today. Earnings per share on an adjusted basis may be 93 cents, according to the average estimate in a Bloomberg survey of nine analysts. The shares rose 0.1 percent to 36.05 pesos.

Axtel SAB (AXTELCPO MM): Mexico’s second-biggest land-line phone company reported a third-quarter net loss of 18.7 million pesos in a statement to the Mexican stock exchange. The shares dropped 1 percent to 7.21 pesos.

Grupo Financiero Banorte SAB (GFNORTEO MM): Former central bank governor Guillermo Ortiz will become chairman starting March 1, Mexico’s third-largest bank by said. Net income rose to 1.71 billion pesos ($137 million) The shares fell 0.5 percent to 51.72 pesos.

Ixe Grupo Financiero SAB (IXEGFO): The Mexico City-based bank in talks to merge with Banorte is a “valuable brand,” said Banorte Chief Executive Officer Alejandro Valenzuela. Banorte is interested in all Ixe units, Valenzuela said. The shares fell 0.5 percent to 19.5 pesos.

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