CSN, Mirgor, Petrobras, Tim and Walmex: Latin Equity Preview

Dec. 4 (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 rose 1.8 percent yesterday to 1,899.52.

Argentina

Mirgor Sacifia (MIRG AF): Argentine automobile production fell 28 percent in November from a year earlier and sales declined 26 percent, the country’s Automakers Association said yesterday. Mirgor makes climate-control systems for vehicles. Mirgor fell 1.6 percent to 36.50 pesos.

Brazil

Cia. Siderurgica Nacional SA (CSNA3 BS): Brazil’s third- largest steelmaker plans to buy back as many as 9.7 million shares, or about 2 percent of the company’s stock, in the next month. The company has about 444.5 million shares on the market, according to a filing yesterday. CSN fell 2.2 percent to 23.64 reais.

Petroleo Brasileiro SA (PETR4 BS): Brazil’s state- controlled oil company signed an $857 million contract with three companies to build part of its P-55 oil platform. The cost of the P-55 semisubmersible platform, scheduled to begin production at the Roncador oil field in 2011, is estimated at $1.65 billion, Petrobras said. Petrobras rose 5.5 percent to 19.31 reais.

Tim Participacoes SA (TCSL3 BS): Brazil’s third-biggest mobile-phone company will need faster growth in the fourth quarter reach its forecast for 2008, Ativa Corretora analyst Luciana Leocadio wrote in a note. Tim’s forecasts for 2009 are “aggressive” in light of increased competition and slower economic growth, she wrote. Tim fell 6.2 percent to 6.10 reais.

Mexico

Bolsa Mexicana de Valores SAB (BOLSA MM): The company that operates the country’s only stock exchange does not expect any initial public share offers next year because of “difficult” market conditions, Chairman Guillermo Prieto told reporters in Mexico City yesterday. Bolsa Mexicana rose 9.1 percent to 8.78 pesos.

Wal-Mart de Mexico SAB (WALMEXV MM): The country’s largest retailer said sales at stores open at least a year rose 5.6 percent in November from a year earlier. That was more than the 3 percent to 4 percent forecast by Citigroup Inc. analyst Eduardo Estrada in a research note earlier this week. Walmex, as the company is known, rose 1 percent to 37.15 pesos.