Bancolombia, Embraer, Molinos, Petrobras: Latin Equity Preview

By Alexander Ragir and William Freebairn

Aug. 25 (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 was little changed at 4,026.80.

Brazil

Banco do Brasil SA (BBAS3 BS) and Banco Nossa Caixa SA (BNCA3 BS): Banco do Brasil, Latin America's biggest bank, and Nossa Caixa, Brazil's largest regional lender in government hands, disagree about the amount Banco do Brasil should pay for assets of the bank it's in talks to acquire, Valor Economico reported without saying where it obtained the information. Banco do Brasil rose 0.9 percent to 23.51 reais. Nossa Caixa fell 1.2 percent to 39.70 reais.

Empresa Brasileira de Aeronautica SA (EMBR3 BS): The world's fourth-largest aircraft maker may sell planes to Argentina's government for Aerolineas Argentinas SA and may open a plant in the South American country, Telam reported on Aug 23, citing Argentine Planning Minister Julio de Vido. Embraer gained 3.2 percent to 13.52 reais.

Petroleo Brasileiro SA (PETR4 BS): Brazil's Mines and Energy Minister Edison Lobao said the government is studying how to manage so-called pre-salt oil fields and ``has no interest in breaking contracts,'' O Globo newspaper reported on Aug. 24. Petrobras, as Brazil's state-controlled oil company is known, fell 0.3 percent to 35.29 reais.

Tim Participacoes SA (TCSL3 BS): Brazil's second-biggest mobile-phone company denied that it's in talks to be taken over by rival Vivo Participacoes SA. ``The rumors circulating in the market lack any fundamentals,'' according to a Tim statement e- mailed to Bloomberg Aug. 22. Tim voting shares jumped 5.1 percent to 5.83 reais after Banif Invetimentos said Vivo may buy Tim.

Colombia

Bancolombia SA (BCOLO CB): Colombia's biggest lender plans to sell 191 billion pesos ($102 million) in mortgage loans to Titularizadora Colombiana SA. The loans will be secured by Titularizadora through the issuance of local mortgage-backed securities, the Medellin-based bank wrote in a statement distributed by PR Newswire on Aug. 22. Bancolombia rose 1.6 percent to 15,040 pesos.

Molinos Rio de la Plata SA (MOLI AF) and Cresud SACIF y A (CRES AF): A prolonged drought in Argentina, the world's second- largest corn exporter and third-largest for soybeans, has eroded field conditions as farmers prepare to sow new crops, the Buenos Aires Cereals Exchange said. The northern and western areas of the Pampas agricultural zone are experiencing a ``severe drought,'' with scant rainfall and rising temperatures, the exchange said Aug. 22 in an e-mailed report. Molinos, which makes soybean oil and other food products, gained 2 percent to 7.54 pesos. Cresud, which farms soybeans and other crops, rose 1.8 percent to 3.46 pesos.

Mexico

Cemex SAB (CEMEXCP MM): The largest cement maker in the Americas will resume talks Aug. 25 with Venezuela's government to negotiate compensation over the nationalization of its local unit, Vice President Ramon Carrizalez said Aug. 22 in a televised comment. Venezuela seized Cemex's local unit last week as part of a plan to nationalize key industries. Mexico City-based Cemex fell 1.8 percent to 20.93 pesos.

Peru

Sociedad Minera El Brocal SAA (SMB PE): Peru's second- largest zinc producer will boost capacity at its Huaraucaca copper facility as part of a $160 million investment plan, El Brocal said in a filing with Peruvian regulators Aug. 22. El Brocal rose 4.3 percent to 24.50 pesos when it last traded Aug. 21.

To contact the reporters on this story: William Freebairn in Mexico City at wfreebairn@bloomberg.net; Alexander Ragir in Rio de Janeiro at aragir@bloomberg.net;