Economic Calendar

Wednesday, December 3, 2008

BM&FBovespa, Entel, Homex, Molinos, SLC: Latin Equity Preview

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Dec. 3 (Bloomberg) -- The following companies may have unusual price changes today in Latin America trading. Stock symbols are in parentheses and share prices reflect the previous close.

The MSCI Latin America Index fell 0.4 percent yesterday to 1,866.5.

Argentina

Molinos Rio de la Plata SA (MOLI AF): The soybean exporter said 64 percent of shareholders elected to receive a dividend in shares, with the remainder being paid cash. Molinos transferred a total of 13.7 million treasury shares to holders on Nov. 27 as part of the dividend payment, it said yesterday. Molinos rose 4.9 percent to 8.60 pesos.

Brazil

BM&FBovespa SA (BVMF3 BS): Foreign investors sold more Brazilian shares than they bought for a sixth consecutive month, the longest streak of outflows in almost eight years. The value of shares bought and sold by foreigners fell below 25 billion reais ($10.4 billion) each during the month, the lowest level since January 2007, BM&FBovespa, Latin America’s biggest exchange, said yesterday. BM&FBovespa fell 2.6 percent to 4.58 reais.

Quattor Petroquimica SA (SZPQ4 BS): The petrochemical holding company spent 271.6 million reais buying the remaining shares of Petroquimica Uniao SA it didn’t own. Quattor said it acquired 6.51 million common shares and 11.1 million preferred shares for 15.39 reais each, representing 95 percent of Petroquimica Uniao’s outstanding shares. Quattor rose 0.3 percent to 9.05 reais.

SLC Agricola SA (SLCE3 BS): The agricultural company said it received a 151 million reais loan from Banco do Nordeste do Brasil to help finance next year’s harvest. The transaction adds to a loan of 63 million reais that SLC said it obtained from Banco do Nordeste in August. SLC fell 4.8 percent to 10 reais.

Chile

Empresa Nacional de Telecomunicaciones SA (ENTEL CC): Chile’s second-biggest wireless phone company agreed to pay about 15.3 billion pesos ($22.8 million) for computer services company Cientec Computacion SA. The final price may be adjusted after an audit of Cientec’s books, Entel said yesterday. Entel rose 0.7 percent to 6,650 pesos.

Mexico

Desarrolladora Homex SAB (HOMEX* MM): Mexico’s biggest homebuilder said revenue next year will increase 8 percent to 10 percent, driven by demand for low-cost housing. The company also said yesterday Carlos Moctezuma was appointed chief financial officer, replacing Alan Castellanos, who left. Homex rose 6.1 percent to 38.26 pesos.




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