Eletropaulo, Fleury, Telmex: 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 fell for a second day, retreating 0.5 percent to 4,449.11.


Banco Panamericano SA (BPNM4 BS): The lender will release its 2010 third-quarter earnings Feb. 15, according to a regulatory filing. The bank said it will make every effort to identify accounting problems and that Brazil’s bank deposit insurance fund won’t aid the bank directly. The shares plunged 9.8 percent to 5.95 reais.

Brasil Brokers Participacoes SA (BBRK3 BS): The Brazilian provider of real-estate services is selling 25.2 million shares at 7.9 reais each to raise 199 million reais ($119.3 million) in a primary offer, according to a regulatory filing. Brasil Brokers slipped 0.7 percent to 8.05 reais.

Eletropaulo Metropolitana SA (ELPL4 BS): The Brazilian unit of AES Corp. revised its 2010 earnings to reverse a provision of 86.9 million reais ($52.1 million) for legal proceedings as a result of a pact with the Fundacao Cesp pension fund, under which the fund agreed to pay supplemental pension benefits, the company said in a regulatory filing. The stock fell 1 percent to 31.90 reais.

Fleury SA (FLRY3 BS): The Brazilian provider of medical services bought Diagnoson Ultrasonografia e Densitometria Ossea for 53.2 million reais ($31.9 million), according to a regulatory filing. Fleury shares lost 0.8 percent to 24.80 reais.


Colbun SA (COLBUN CC): Chile’s third-largest electricity company by market value said fourth-quarter net income dropped to $14.7 million, from $82.9 million a year earlier, according to a statement on the securities regulator’s website. The shares dropped 0.1 percent to 124.77 pesos.


Lenders: Mexico’s central bank will release the minutes of its January monetary policy meeting.

Grupo Financiero Banorte SAB (GFNORTEO MM), Mexico’s third-largest bank by outstanding loans, slumped 2.1 percent to 52.73 pesos. Grupo Financiero Inbursa SA (GFINBURO MM), the financial services firm controlled by billionaire Carlos Slim, declined 1.4 percent to 53.26 pesos.

Retailers: The national statistics agency will announce January consumer confidence today. Economists forecast that confidence rose to 91.5 from 91.2 in December, according to the median estimate of nine analysts surveyed by Bloomberg.

Grupo Elektra SA (ELEKTRA* MM), the retail and banking company controlled by billionaire Ricardo Salinas, dropped 1.5 percent to 503.64 pesos. Wal-Mart de Mexico SAB de CV (WALMEXV MM), Latin America’s largest retailer, declined 1.7 percent to 35 pesos.

U.S.-related companies: U.S. nonfarm employment increased by 146,000 workers in January after a 103,000 gain in December, according to a Bloomberg survey ahead of today’s data.

Alfa SAB (ALFAA MM), the world’s largest producer of aluminum engine heads, slipped 1.1 percent to 140.68 pesos. Cemex SAB (CEMEXCPO MM), the largest cement maker in the Americas, gained 1.4 percent to 11.61 pesos.

Telefonos de Mexico SAB (TELMEXL MM): Mexico’s largest fixed-line telephone company said fourth-quarter profit fell 32 percent from the same period last year, according to an e-mailed statement. The company will have a conference call with analysts and shareholders today at 10 a.m. New York time. Telmex fell 0.1 percent to 10.76 pesos.


Thirteen of 24 traders, investors and analysts surveyed by Bloomberg, or 54 percent, said gold will rise next week. Eight predicted lower prices and three were neutral.

Minera IRL Ltd. (MIRL PE), a U.K. minerals explorer with a gold mine in Peru, fell 0.8 percent to $1.27. Rio Alto Mining Ltd. (RIO PE), a Canadian gold exploration company, gained 1.7 percent to $2.40. Cia. de Minas Buenaventura SAA (BVN PE), the country’s biggest precious-metals miner, advanced 3 percent to $45.30. Gold Fields La Cima SA (LACIMAI1 PE), a unit of Gold Fields Ltd., gained 1.2 percent to 3.52 soles.

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