Banco do Brasil, Cemig, Genomma Lab: Latin Equity Preview

By [bn:PRSN=1] William Freebairn [] and [bn:PRSN=1] Paulo Winterstein []

Aug. 15 (Bloomberg) -- The following companies may have unusual price changes in Latin America trading. Stock symbols are in parentheses, and share prices are from the previous close. Preferred shares are usually the most-traded class of stock in Brazil.

The MSCI Latin America Index rose 1.8 percent to 3,972.43. Markets in Chile are closed today for a holiday.

Brazil

Banco do Brasil SA (BBAS3 BS): Second-quarter profit for Latin America's largest bank by assets rose 53 percent from the year-earlier period to 1.64 billion reais ($1.01 billion), the Brasilia-based bank said in a statement yesterday on the Brazilian regulator's Web site. The result beat the 1.5 billion reais average estimate of six analysts surveyed by Bloomberg. State-controlled Banco do Brasil rose 2.8 percent to 21.80 reais.

Cia. Brasileira de Distribuicao Grupo Pao de Acucar SA (PCAR4 BS): Net sales at stores of Brazil's biggest food retailer open for more than a year rose 13 percent in July on rising demand for electronics. Net sales in all stores rose 26 percent in July to 1.5 billion reais, Sao Paulo-based Pao de Acucar said in an e-mailed statement yesterday. Pao de Acucar added 2.6 percent to 35.30 reais.

Cia. Energetica de Minas Gerais SA (CMIG4 BS): Second- quarter profit at Brazil's largest combined electricity generator and distributor rose 16 percent to 599.3 million reais from 515 million reais a year earlier, according to a filing sent yesterday to Brazil's securities regulator. That's more than the 424.9 million reais average of eight analysts' estimates compiled by Bloomberg. Cemig, as the company is known, rose 0.1 percent to 35.25 reais.

Cia. Siderurgica Nacional SA (CSNA3 BS): The third-largest Brazilian steelmaker said in a regulatory filing yesterday that second-quarter net income rose 8.2 percent from a year earlier to 1.03 billion reais ($635 million). That's less than the 1.13 billion reais average of nine analysts' estimates compiled by Bloomberg. CSN, as the company is known, rose 1.5 percent to 54.19 reais.

Mexico

Genomma Lab Internacional SAB (LAB MM): IXE Grupo Financiero began coverage of the Mexican health and beauty products company with a ``buy'' recommendation. Genomma will use its marketing ``mastery'' to increase the number of over-the- counter remedies it sells to 225 by 2011 from 90 now, analyst Thomas Mobille wrote in a research report e-mailed yesterday. Sales will rise by a third yearly through 2010 and net income will grow by almost half each year during that time period, Mobille wrote. Genomma was unchanged at 15.51 pesos when it last traded Aug. 13.

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.