Localiza, Sul America, Wal-Mart Mexico: Latin Equity Preview

By William Freebairn and Heloiza Canassa

Oct. 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 5.6 percent to 2,362.08 yesterday. Markets in Peru are closed today for a holiday.

Brazil

Fertilizantes Fosfatados SA - Fosfertil (FFTL4 BS): A Brazilian fertilizer industry group reduced its 2008 sales forecast by 1 million tons to 25 million tons on falling commodity prices, Reuters said. Fosfertil, Brazil's biggest fertilizer maker by market value, fell 2 percent to 12 reais.

Localiza Rent a Car SA (RENT3 BS): Latin America's biggest car-rental company said net revenue rose 39 percent to 530.4 million reais ($229.4 million) in the third quarter from a year earlier, in a regulatory filing. Sales beat the 480.8 million reais average of four estimates compiled by Bloomberg. Localiza rose 6.8 percent to 6.76 reais.

Sul America SA (SULA11 BS): The insurer backed by Dutch financial firm ING Groep NV said it will buy back as much as 3 percent of outstanding stock units after a 49 percent decline this year. Sul America plans to buy back as many as 1.05 million units over the next year, it said yesterday in a regulatory filing. Sul America fell 5.6 percent to 15.30 reais.

Chile

Cia. de Telecomunicaciones de Chile SA (CTCA CC): Telefonica SA may sweeten an offer to buy stock in its Chilean unit it doesn't already own after minority shareholders yesterday blocked a bid priced at 1,000 pesos a share, Natalia Aranguiz, an analyst at FIT Research, said by phone. Telefonica SA's press representative in Chile declined to comment. Telefonica Chile, as the country's biggest fixed-line carrier is known, dropped 4.4 percent to 867.34 pesos.

Mexico

Grupo Aeroportuario del Centro Norte SAB (OMAB MM): The operator of 13 Mexican airports said September passenger traffic fell 7.5 percent as international travel declined. That was less than the 9 percent to 11 percent decline forecast by Credit Suisse Group AG in a research report dated Oct. 6. Oma, as the company is known, fell 1.2 percent to 13.94 pesos.

Industrias Penoles SAB (PE&OLES* MM): The world's largest primary silver producer's Fresnillo unit boosted its stake in Canadian mining company Mag Silver to 19 percent by buying 2.51 million shares Oct. 7. Penoles and its affiliates together own 20 percent of Mag Silver, Fresnillo said in a statement to the Mexican stock exchange yesterday. Penoles fell 9.9 percent to 115.22 pesos.

Wal-Mart de Mexico SAB (WALMEXV MM): Latin America's largest retailer said yesterday third-quarter profit fell 3 percent to 3.27 billion pesos ($266 million), or 38.6 centavos a share. The results trailed the 41 centavos expected by seven analysts in a Bloomberg survey. Walmex, as the company is known, was little changed at 29.01 pesos.

To contact the reporters on this story: William Freebairn in Mexico City at wfreebairn@bloomberg.net; Heloiza Canassa in Sao Paulo at hcanassa@bloomberg.net.