Bradespar, Credicorp, Gruma, Usiminas: Latin Equity Preview

By [bn:PRSN=1] William Freebairn [] and Paulo Winterstein

Nov. 14 (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 rose 4.4 percent yesterday to 2,013.6.

Brazil

Bradespar SA (BRAP4 BS): The holding company that is part of the group that controls mining company Cia. Vale do Rio Doce said it plans to raise as much as 1.4 billion reais by selling local bonds. Bradespar rose 4.5 percent to 18.71 reais.

Natura Cosmeticos SAB (NATU3 BS): Brazil's biggest cosmetics company was reduced to ``underperform'' from ``neutral'' by Credit Suisse Group AG yesterday. Cosmetic sales will grow at a slower rate next year and Natura has ``limited upside,'' analysts wrote in a research note. Natura rose 7 percent to 21.50 reais.

Usinas Siderurgicas de Minas Gerais SA (USIM5 BS) and Cia. Siderurgica Nacional SA (CSNA3 BS): Brazil's steel distributors expect a 20 percent drop in sales of flat-steel products this month and a further decline in December as credit availability tightens for their customers, Christiano da Cunha Freire, president of the National Steel Distributors Institute, said in an interview. Usiminas, as Brazil's second-biggest steelmaker is known, rose 4 percent to 22.87 reais. CSN, Brazil's third-biggest steelmaker, gained 4.6 percent to 23.01 reais.

Chile

SACI Falabella SA (FALAB CC): Chile's biggest department store operator signed a lease agreement for five new stores in Colombia. The deal will strengthen Falabella's position in a market with favorable retail conditions, Banchile Inversiones analyst Patricio Hernandez said by phone yesterday, reiterating a ``buy'' rating. Falabella gained 6.2 percent to 1,680 pesos.

Mexico

America Movil SAB (AMXL MM): Latin America's largest mobile- phone company is Lone Pine Capital LLC's top holding, the investment company reported in a U.S. regulatory filing yesterday. Lone Pine added 3.7 million shares of America Movil as of Sept. 30, boosting its position to $835 million. America Movil rose 9 percent to 20.97 pesos.

Gruma SAB (GRUMAB MM): Mexico's biggest supplier of corn flour for tortillas said it obtained financing to unwind its 2008 currency derivative positions. Gruma rose 4 percent to 6.51 pesos.

Peru

Credicorp Ltd. (BAP PE): Fitch Ratings may increase the debt rating of Banco del Credito del Peru, Peru's largest lender and a unit of Credicorp. Banco del Credito del Peru has boosted profitability by lending more to individuals and small business, Fitch wrote in a report yesterday, revising its outlook to ``positive'' from ``stable.'' Credicorp rose 5.1 percent to $42.31.

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