Cemig, Cemex, Light, Galicia, Macro: Latin Equity Preview

By James Attwood and Fabio Alves

Nov. 5 (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 8.8 percent yesterday to 2,373.97.

Argentina

Banco Macro SA (BMA AF), BBVA Banco Frances SA (FRAN AF) and Grupo Financiero Galicia SA (GGAL AF): Argentine authorities are inspecting banks and brokerages to see if they are violating foreign exchange requirements or evading taxes. Argentina's securities regulator, tax agency, and central bank said in a joint statement that they have been carrying out inspections, without elaborating on the reason for the searches. Macro rose 7.3 percent to 3.25 pesos. Frances climbed 6.7 percent to 3.52 pesos. Galicia added 3.6 percent to 80 centavos.

Brazil

Braskem SA (BRKM5 BS): Latin America's largest chemical company will invest $30 million in a plant in Venezuela, according to a filing with Brazil's securities regulator. The investment was approved Nov. 4 by Braskem's board. The stock sank 4.6 percent to 9.06 reais.

Cia. Energetica de Minas Gerais (CMIG4 BS): Brazil's largest combined electricity generator and distributor said it acquired 80 percent of power distributors Companhia Transmissora de Energia Eletrica, known as Lumitrans, and Sistema de Transmissao Catarinense SA, know as STC. A unit of the company paid 32.5 million reais ($15.4 million) for Lumitrans shares and 56.8 million reais for the STC stake. Cemig fell 4.3 percent to 33.50 reais.

Light SA (LIGT3 BS): Brazil's second-biggest electricity distributor will raise prices in Rio de Janeiro and surrounding areas by an average 4.7 percent starting Nov. 7. The increase, the first in two years, was granted by Brazil's electricity regulator, known as Aneel. The stock slid 0.4 percent to 22.37 reais.

Mexico

Cemex SAB (CEMEXCP MM): The world's third-largest cement producer said its offices in the U.K. and Germany were searched by authorities seeking information related to an antitrust investigation. Cemex said it is cooperating with regulators by providing all requested information and testimonies. Cemex rose 1.9 percent to 10.23 pesos.

To contact the reporters on this story: James Attwood in Santiago at jattwood3@bloomberg.net; Fabio Alves in New York at falves3@bloomberg.net;