Colbun, Gol, Lupatech, Modelo, Petrobras: Latin Equity Preview

By William Freebairn and Paulo Winterstein

July 15 (Bloomberg) -- The following stocks may have significant gains or losses in Latin American markets. Symbols are in parentheses after company names, and stock prices are from the last session.

The MSCI index of Latin American shares rose 1 percent to 4,387.42 yesterday. In Brazil, preferred shares are the most commonly traded class of stock.

Brazil

Gol Linhas Aereas Inteligentes SA (GOLL4 BS): Brazil's second-biggest airline signed an agreement with Emirates Airline's cargo division allowing the companies to deliver cargo to all locations served by the two companies, Gol said yesterday in a statement distributed by PR Newswire. Gol fell 4.8 percent to 12.97 reais.

Lupatech SA (LUPA3 BS): The Brazilian maker of parts for oil and gas industries agreed to pay about 61.7 million reais ($38.7 million) for valve maker Tecval SA Valvulas Industriais. Caxias do Sul, Brazil-based Lupatech expects to add about 18 million reais in earnings before interest, taxes, depreciation and amortization after the acquisition, the company said yesterday in a regulatory filing. Lupatech fell 0.3 percent to 57.24 reais.

Petroleo Brasileiro SA (PETR4 BS): Brazil's state-controlled oil company said yesterday output in the Campos Basin has returned to 96 percent of capacity as an oil-platform worker strike continues. The strike, which began yesterday, has reduced output by 63,000 barrels a day. Petrobras added 0.7 percent to 40.88 reais.

Chile

Colbun SA (COLBUN CC): The electricity generator controlled by Chile's Matte group was raised to ``buy'' from ``hold'' by Banco Santander SA. Colbun plans to increase its generating capacity by 90 percent and recent rains have reduced costs, analysts Diego Celedon and Marcio Prado wrote in a research report sent yesterday. Colbun rose 1.6 percent to 96.50 pesos.

Empresa Nacional de Electricidad SA (ENDESA CC): Chile's biggest electricity producer is Banco Santander SA's preferred utility in the country. Endesa, as the company is known, is expanding capacity and will have the best earnings in the industry, Santander said in a report e-mailed yesterday. Endesa fell 0.4 percent to 694.51 pesos.

Mexico

Grupo Modelo SAB (GMODELOC MM): Controlling shareholders of Mexico's largest brewer may have missed an opportunity to sell their stake at ``a significant premium'' Credit Suisse analysts including Tufic Salem wrote in a research note e-mailed yesterday. InBev NV agreed yesterday to buy Anheuser Busch Cos., the U.S. brewer that has about a 50 percent non-controlling stake in Modelo. The transaction may have happened too quickly for Modelo to respond, Credit Suisse said. Modelo fell 0.9 percent to 51.07 pesos.

Grupo TMM SA (TMMA MM): The Mexican transportation company's offer to lease five tankers to a unit of government-owned Petroleos Mexicanos was rejected. The contract will be bid again ``shortly,'' the oil company said in a statement e-mailed yesterday. TMM fell 5.4 percent to 17.60 pesos when it last traded July 11.

To contact the reporters on this story: William Freebairn in Mexico City at wfreebairn@bloomberg.net; Paulo Winterstein in Sao Paulo at pwinterstein@bloomberg.net.