Aluar Aluminio, Aracruz, Bimbo, Siderar: Latin Equity Preview

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

Nov. 7 (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 5.9 percent yesterday to 2,116.75. Argentine markets were closed yesterday for a holiday.

Argentina

Aluar Aluminio Argentino SAIC (ALUA AF): Argentina's only aluminum producer probably will report ``weak'' earnings on higher labor, transport and financial costs, adding to pressure from the country's deteriorating economy, Banco Santander SA analysts including Victoria Santaella wrote in a note to clients yesterday. Aluar, which may announce results on Nov. 11, fell 3.2 percent to 3.3 pesos.

Siderar SAIC (ERAR AR): Ternium SA, Latin America's second-largest steelmaker, said that demand for the metal fell by as much as 20 percent in some markets and will remain weak into 2009 because of the global financial crisis. Siderar, a Ternium unit, rose 5.5 percent to 19.10 pesos.

Brazil

Aracruz Celulose SA (ARCZ6 BS): The world's biggest eucalyptus pulp producer said it called a Nov. 24 meeting of shareholders to vote on whether to sue the company's former chief financial officer. Aracruz last month posted its first quarterly loss in six years after taking a charge of about $1 billion to cover bad currency bets. Aracruz fell 7 percent to 2.66 pesos.

Gol Linhas Aereas Inteligentes SA (GOLL4 BS): Brazil's second-largest airline said domestic passenger air traffic slumped 14 percent in October, while the occupancy rate was 57 percent, down from 69 percent a year earlier. Capacity rose 6.1 percent in October from a year earlier. Gol jumped 5.2 percent to 9.65 reais.

Mexico

Grupo Aeroportuario del Pacifico SAB (GAPB MM): The biggest of Mexico's three non-government airport operators handled 15 percent fewer passengers in October as domestic traffic declined. Gap, as the company is also known, rose 2.8 percent to 23.95 pesos.

Grupo Bimbo SAB (BIMBOA MM) and Kimberly-Clark de Mexico SAB (KIMBERA MM): Mexico's biggest baker and the nation's biggest maker of paper products generate high rates of cash and demand for their products may hold up in a slowdown, Citigroup Inc. analysts wrote in a research note yesterday. Bimbo fell 4.1 percent to 61.50 pesos and Kimberly-Clark declined 5.4 percent to 39.27 pesos.

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