Milpo, Petrobras, Quickfood and Usiminas: Latin Equity Preview

By Alexander Ragir and [bn:PRSN=1] William Freebairn []

Aug. 26 (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 2.9 percent yesterday to 3,909.83.

Argentina

Quickfood SA (PATY AF): Argentina's biggest meatpacker said it is unaware of reasons for the stock's steepest drop in more than a year. ``There is nothing new,'' company spokesman Miguel Gorelik said by phone yesterday from Buenos Aires. Quickfood fell 8.6 percent to 21.20 pesos.

Brazil

Petroleo Brasileiro SA (PETR4 BS): The decline in shares of Petroleo Brasileiro SA shares has been ``overdone'' and investors should focus on the company's exploration potential instead, Deutsche Bank AG said in a note to clients today. Petrobras fell 4.2 percent to 33.81 reais.

Usinas Siderurgicas de Minas Gerais (USIM5 BS) and Cia. Siderurgica Nacional SA (CSNA3 BS): Brazil's second- and third- largest steelmakers, respectively, were upgraded to ``buy'' at UBS AG after a three-month slump in the shares. Carlos Vasques and Edmo Chagas, analysts at UBS, upgraded both companies from ``neutral'' in a report today. Usiminas fell 1.8 percent to 55 reais. CSN fell 3.8 percent to 53.41 reais.

Colombia

Bancolombia SA (BCOLO CB): The country's largest bank said directors agreed to allow vice president Luis Santiago Perez Moreno sell a Bancolombia stake worth $126,064, according to a statement sent yesterday via PR Newswire. Bancolombia fell 1.6 percent to 14,800 pesos.

Mexico

Cia. Minera Autlan (AUTLANB MM): The Mexican manganese miner will pay a dividend of 29 centavos a share on Sept. 3, according to a filing with the Mexican stock exchange yesterday. Autlan fell 1.2 percent to 72.54 pesos.

Telefonos de Mexico SAB (TELMEXL MM): Mexico's biggest fixed-line phone company lost 8,000 customers since the July 12 start of a system letting users change phone carriers while keeping the same number, El Universal reported yesterday, citing a cable industry group. Telmex, as the company is known, gained 750 customers from other companies under the so-called number portability rules, the Mexico City-based newspaper reported, quoting cable industry group head Alejandro Puente. Telmex fell 2.5 percent to 12.74 pesos.

Peru

Cia. Minera Milpo SA (MILPOC1 PE): Votorantim Metais Ltda., Latin America's biggest zinc producer, increased its stake in Milpo, Peru's fourth-largest zinc producer. Votorantim bought 8.3 percent of shares from Aug. 15 to Aug. 20, Milpo said in a filing yesterday with Peruvian regulators. Milpo rose 1.4 percent to 7.50 soles.

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;