Cap, Contax, Cresud, Ecopetrol, Invermar: Latin Equity Preview

By William Freebairn and James Attwood

Sept. 8 (Bloomberg) -- The following companies may have unusual price changes today 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 1.9 percent Sept. 5 to 3,566.14.

Argentina

Cresud SACIF y A (CRES AF): The Argentine agricultural and real-estate company had a ``buy'' rating reiterated by Raymond James & Associates. The stock probably will rise to 4.30 pesos in six months on ``impressive'' earnings growth prospects, analysts including Francisco Schumacher wrote in a Sept. 5 research note. Cresud fell 0.9 percent to 3.35 pesos.

Brazil

Abyara Planejamento Imobiliario SA (ABYA3 BS): The homebuilder that sold its brokerage unit to Brasil Broker Participacoes last month was cut to ``hold'' from ``buy'' at Banco Santander SA. The builder is likely to reduce the number of projects it begins because of its quick use of cash, analyst Marcello Milman wrote in a Sept. 5 note. Abyara fell 1 percent to 5.05 reais.

Contax Participacoes SA (CTAX4 BS): The Brazilian provider of call-center services will buy back as much as 2 percent of its voting shares and as much as 10 percent of preferred, non-voting shares during the next year, Contax said in a Sept. 5 filing posted on Brazil's securities regulator Web site. Contax preferred shares rose 0.3 percent to 43.50 reais.

Chile

Cap SA (CAP CC): Chile's biggest producer of steel and iron ore will pay an interim dividend of 100 pesos a share on Oct. 15 to shareholders of record Oct. 9, it wrote in a Sept. 5 regulatory filing. That compares with a payment of 80 pesos in the year-ago period, according to Bloomberg records. Cap fell 2.7 percent to 15,766 pesos.

Multiexport Foods SA (MULTIFOO CC) and Invertec Pesquera Mar de Chiloe SA (INVERMAR CC): Chilean salmon farmers said a virus that affects the country's production may be worsening, afternoon daily La Segunda newspaper reported, citing Cesar Barros, president of a group representing Chilean producers. The number of cases has increased, said Alvaro Jimenez, chief executive of Marine Harvest Chile SA, the newspaper reported on Sept. 5. Multiexport, the world's sixth-largest salmon producer, dropped 1.9 percent to 126.38 pesos. Invermar, a rival producer, fell 6.4 percent to 252.77 pesos.

Colombia

Ecopetrol SA (ECOPETL CB): Colombia's state oil company's new Arrayan-1 well is cable of producing 860 barrels a day of oil and 175,000 cubic feet of natural gas, the company said in a statement Sept. 5. Ecopetrol fell 0.6 percent to 2,600 pesos.

Mexico

Alsea SAB (ALSEA* MM): The operator of Domino's Pizza and Starbucks coffee shops in Mexico had six net store openings in August. The company opened four Domino's Pizza units and closed one in the month, Alsea said in a statement e-mailed Sept. 5. Alsea fell 2.8 percent to 10.89 pesos.

Fomento Economico Mexicano SAB (FEMSAUBD MM): Latin America's largest beverage company expects sales at its Jugos del Valle unit to more than double in the next five years, Chief Executive Officer Jose Antonio Fernandez said in an interview Sept. 5. Fomento Economico's soft drink unit and Coca-Cola Co. bought Jugos del Valle for $370 million last year. Femsa, as the beverage company is known, declined 1.2 percent to 46.47 pesos.

IXE Grupo Financiero SA (IXEGFO MM): The Mexican financial services company's banking subsidiary plans to start a joint venture with a unit of JPMorgan Chase & Co. to issue and service credit cards in Mexico. The new company will be equally owned by IXE Banco SA and CMC Holding Delaware Inc., IXE said in a statement Sept. 5. IXE rose 0.6 percent to 16 pesos when it last traded Sept. 3.

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