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Cemex, Gol, Southern Copper, Tam: Latin America’s 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 2.5 percent to 3,341.90.


Air carriers: Brazil will create a new airport tax on air carriers based on the number of connecting passengers, said Gustavo do Vale, head of Empresa Brasileira de Infra-Estrutura Aeroportuaria. Tam SA (TAMM4 BS), Brazil’s biggest airline by passengers carried, fell 3.8 percent to 28.87 reais. Gol Linhas Aereas Inteligentes SA (GOLL4 BS), Brazil’s second largest airline by market share, sank 4.9 percent to 10.24 reais.

Brasil Ecodiesel Indústria e Comércio de Biocombustíveis e Óleos Vegeais SA (ECOD3 BS): Brazil’s biggest biodiesel maker said it agreed to sell a cotton seed crushing plant in the Brazilian state of Goias to Louis Dreyfus Commodities Brasil SA for 40 million reais ($21 million). The total amount of the transaction may rise to 60 million reais, depending on the performance of the unit from 2011 to 2013, the company said in a regulatory filing. The shares fell 6.6 percent to 0.57 reais.

Braskem SA (BRKM5 BS): Latin America’s largest petrochemicals maker completed the acquisition of Dow Chemical Co.’s polypropylene assets, the company announced. The shares fell 3.3 percent to 14.58 reais.

Cia. Energetica de Minas Gerais (CMIG4 BS): The utility known as Cemig is in talks to buy a 10 percent stake in the Belo Monte dam from the companies building the facility, Folha de S.Paulo reported, citing an unidentified person familiar with the matter. The stock declined 0.3 percent to 27.73 reais.


Cia. Cervecerias Unidas SA (CCU CC): Chile’s largest brewer was raised to “buy” from “hold” at Banco Santander SA. The shares rallied 3.2 percent to 5,444.2 pesos.

Colbun SA (COLBUN CC): Chile’s third-largest electricity producer was cut to “hold” from “buy” at Banco Santander SA. The stock climbed 0.5 percent to 129.76 pesos.

Empresas La Polar SA (LAPOLAR CC): The Chilean department-store operator hasn’t made contact with prospective foreign or local investors, the company said. The company is still working on a restructuring plan with investment bank MBA Lazard, it wrote in a statement on the website of Chile’s securities regulator. The shares rose 8.6 percent to 427.80 pesos.


Cemex SAB (CEMEXCPO MM): Futures traders increased their bets that the Mexican peso will decline against the U.S. dollar, figures from the Washington-based Commodity Futures Trading Commission show. Cemex, the Mexican cement maker whose debt is 74 percent denominated in dollars, sank 6.3 percent to 4.44 pesos.

Megacable Holdings SAB (MEGACPO MM): The company said it acquired cable-TV networks in the Mexican cities of Uruapan, San Miguel de Allende and Dolores Hidalgo to add 44,000 television subscribers, according to a Sept. 30 filing to the nation’s stock exchange. Megacable didn’t disclose financial terms of the acquisition. The stock slipped 0.4 percent to 26.6 pesos.


Precious-metals producers: Hedge-fund managers and other large speculators decreased their net-long position in New York gold futures in the week ended Sept. 27, according to U.S. Commodity Futures Trading Commission data.

Rio Alto Mining Ltd. (RIO PE), a Canadian gold exploration company, rose 2.9 percent to $2.47. Alturas Minerals Corp. (ALT PE), a Canadian gold and copper exploration company, fell 7.7 percent to 12 cents on Sept. 29.

Southern Copper Corp. (SCCO PE): Hedge-fund managers and other large speculators decreased their net-short position in New York copper futures in the week ended Sept. 27, according to U.S. Commodity Futures Trading Commission data. Southern Copper, Peru’s biggest copper producer, fell 1.7 percent to $24.96.

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