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Alfa, Bancolombia, Copel, Light: 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 1.7 percent to 4,227.53.


Cia Paranaense de Energia-Copel (CPLE6 BS): Copel approved the acquisition of 49.9 percent stakes in four wind farms from Dreen Brasil Investimentos e Participacoes SA, according to a regulatory filing. The shares rose 2.8 percent to 41.60 reais.

Light SA (LIGT3 BS): Brazil’s second-biggest electricity distributor is in talks with Renova Energia SA (RNEW11 BS) concerning a possible investment by Light in the company, according to a regulatory filing. Light climbed 1.9 percent to 28.80 reais. Renova Energia surged 5.8 percent to 34.30 reais.

Petroleo Braileiro SA (PETR4 BS): Brazil’s state oil producer will take a 50 percent holding in two oil blocks off Gabon held by Ophir Energy Plc. Petrobras, as the company in known, will pay for the stakes by funding drilling work in the Mbeli and Ntsina blocks. The stock slid less than 0.1 percent to 23.29 reais.

Positivo Informatica SA (POSI3 BS): Brazil’s biggest computer maker was cut to "hold" from "buy" at Banco Santander SA. The brokerage has a share-price estimate of 9 reais for 2012. The stock rallied 2.4 percent to 7.63 reais.

Vale SA (VALE5 BS): Metorex Ltd., a $1.1 billion target for Brazil’s Vale, said it received an unsolicited approach from another party. Certain conditions must be met before the interested party decides to bid, Metorex said today in a statement. Shares of Vale, the world’s largest iron-ore producer, dropped 1.1 percent to 42.78 reais.


Bancolombia SA (BCOLO CB): Colombia’s biggest bank was raised to “hold” from “sell” by Interbolsa SA. Interbolsa raised its year-end target price 26 percent to 32,550 pesos on “new loan growth perspectives, an incremental trend in reference rates and the good credit quality,” according to an e-mailed statement. The stock fell 0.5 percent to 29,100 pesos.


Alfa SAB (ALFAA MM): Mexico’s largest non-government chemical company agreed to pay $185 million for a Wellman Inc. plant in Mississippi that makes the plastic packaging material known as PET, Alfa said in a statement. The shares climbed 0.7 percent to 174.68 pesos.

Grupo Mexico SAB (GMEXICOB MM): Grupo Aeroportuario del Pacifico SAB (GAPB MM) said it was notified of a lawsuit by shareholder Grupo Mexico after the company’s assembly gave the mining company one board member instead of two on April 27. Grupo Mexico shres slipped 0.4 percent to 37.47 reais. Aeroportuario del Pacifico retreated 0.4 percent to 48.35 reais.


Austral Group SA (AUSTRAC1 PE): Peru’s fisheries industry increased anchovy catches used for fishmeal and fish oil thirtyfold to 1.68 million metric tons in April, the Production Ministry reported. The stock was unchanged at 28 centimos.

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