Banco de Chile, Cemex, PDG Realty, Sadia: Latin Equity Preview

By [bn:PRSN=1] William Freebairn [] and [bn:PRSN=1] James Attwood []

Oct. 30 (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 surged 6.1 percent yesterday to 2,029.61.

Brazil

PDG Realty SA Empreendimentos e Participacoes (PDGR3 BS): The Brazilian real estate company plans to sell American depositary receipts to increase the ``liquidity, visibility and price'' of its shares, according to a statement yesterday. PDG fell 1.7 percent to 11 reais.

Sadia SA (SDIA4 BS): Brazil's second-largest foodmaker said it had a third-quarter loss of 777.4 million reais ($365 million), compared with net income of 188.4 million reais a year earlier. Sadia had 1.21 billion reais in financial expenses, mostly from the decline in the real, the company said in a statement yesterday. Sadia rose 1 percent to 4.20 reais.

TPI-Triunfo Participacoes e Investimentos SA (TPIS3 BS): The Brazilian operator of highways won the right to operate roads in Sao Paulo state in an auction. The leases are for 30 years. TPI Triunfo was unchanged at 2.50 reais.

Chile

Banco de Chile (CHILE CC): Chile's second-biggest lender said third-quarter net income rose 33 percent to 93 billion pesos ($139 million) from a year earlier. The lender is ``prepared'' for turbulence in financial markets, it said in a statement yesterday. Banco de Chile rose 2.5 percent to 30.50 pesos.

Banco Santander Chile (BSAN CC): The country's biggest lender said third-quarter profit rose 13 percent to 96 billion pesos, or 51 centavos a share, from 85.2 billion pesos, or 45 centavos, a year earlier. The company was expected to post earnings of 46 centavos a share, according to the median estimate of three analysts surveyed by Bloomberg. Banco Santander Chile rose 2.6 percent to 20.09 pesos.

Mexico

Cemex SAB (CEMEXCP MM): North America's biggest cement producer sold 500 million pesos ($38.8 million) of 28-day debt partly backed by government guarantees yesterday at an auction. The commercial paper was sold at an average annualized interest rate of 11.93 percent, Cemex said in a filing yesterday. Cemex failed to sell the same amount of debt, without government guarantees, two weeks ago. Cemex rose 5.9 percent to 8.95 pesos.

Grupo Gigante SAB (GIGANTE* MM): The Mexico City retailer that sold its supermarket chain in December said yesterday Office Depot Inc. rejected an offer to pay $430 million for 50 percent of their office-supply joint venture. Gigante fell 0.2 percent to 12.58 pesos when it last traded Oct. 28.

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