Banco Sofisa, Cap, Copec, ICA, Petrobras: Latin Equity Preview

By William Freebairn and James Attwood

Aug. 12 (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 fell 2.5 percent to 3,932.59.

Argentina

BBVA Banco Frances SA (FRAN AF): Second-quarter profit increased 37 percent to 114 million pesos ($37.5 million) from 82.9 million pesos a year earlier, the country's No. 2 private bank wrote in an e-mailed statement yesterday. That beat Grupo SBS's estimate of 110 million pesos, the brokerage wrote, reiterating a ``buy'' rating and 10.5 peso price estimate. Frances closed unchanged at 5.35 pesos.

Brazil

Banco Sofisa SA (SFSA4 BS): The bank controlled by Brazil's Burmain family may list depositary receipts on the New York Stock Exchange and shares on Spain's market for Latin American companies, Sofisa said in a regulatory filing yesterday. Sofisa rose 0.1 percent to 6.93 reais.

Petroleo Brasileiro SA (PETR4 BS): Brazil's state-controlled oil company said second-quarter net income rose 29 percent to 8.78 billion reais ($5.4 billion,) or 1 real a share, from a year earlier as oil production and prices gained. That was more than the 7.86 billion reais average estimate of four analysts surveyed by Bloomberg News. Net sales climbed 31 percent to 54.6 billion reais, Petrobras said in a statement yesterday. Petrobras, as the company is known, fell 2.5 percent to 32.70 reais.

Chile

Empresas Copec SA (COPEC CC): Copec's wood-pulp unit, Celulosa Arauco y Constitucion SA, said in an e-mailed statement yesterday that second-quarter profit fell 8 percent to $166.8 million from $181.4 million a year earlier. Copec, scheduled to report earnings today, rose 0.9 percent to 6,624.7 pesos.

Sociedad Quimica y Minera de Chile SA (SQM/B CC) and Cap SA (CAP CC): Chile's biggest fertilizer and iron-ore maker, respectively, represent buying ``opportunities,'' said Cesar Perez-Novoa, a managing director at brokerage Celfin Capital in Santiago. SQM probably will report a doubling of second-quarter profit today as global food shortages keep crop fertilizer prices high, he said. Emerging market infrastructure demand probably will offset a slowdown in the U.S. and Europe to maintain high iron-ore prices, he said by phone. SQM fell 6.3 percent to 16,744 pesos. Cap fell 4.2 percent to 19,152 pesos.

Mexico

Empresas ICA SAB (ICA* MM): Mexico's largest construction company said it won two construction contracts worth a total of 643 million pesos ($63.1 million). The contracts are to build a convention center in central Mexico and renovate a runway at Mexico City's airport, the company said in a statement to the Mexican stock exchange. ICA fell 0.1 percent to 46.66 pesos.

To contact the reporters on this story: William Freebairn in Mexico City at wfreebairn@bloomberg.net; James Attwood in Santiago at jattwood3@bloomberg.net.