Bradesco, Cyrela, Galicia, TMM, Vale: Latin Equity

By William Freebairn and James Attwood

Jan. 22 (Bloomberg) -- The following companies may have unusual price changes today in Latin American trading. Stock symbols are in parentheses and share prices reflect the previous close.

The MSCI Latin America Index rose 2.4 percent yesterday to 2,021.19. In Brazil, preferred shares are usually the most- traded class of stock.

Argentina

Grupo Financiero Galicia SA (GGAL AF): Banco Galicia, Argentina’s biggest private lender, will participate in a local debt exchange that the government is carrying out to extend maturities. The bank holds about 1.24 billion pesos ($357 million) of securities eligible for the swap. The holding company Grupo Financiero Galicia fell 2.1 percent to 69 centavos.

Brazil

Banco do Brasil SA (BBAS3 BS) and Banco Bradesco SA (BBDC4 BS): Federally controlled Banco do Brasil and Bradesco, the third-largest bank by assets, said they will cut interest rates on consumer and corporate loans after the central bank reduced the benchmark rate yesterday to 12.75 percent. Banco do Brasil gained 2.2 percent to 13.75 reais. Bradesco rose 4.9 percent to 21.09 reais.

Cia. Vale do Rio Doce (VALE5 BS): The world’s largest iron-ore producer said it cut production by 26 percent in the fourth quarter as slower global economic growth hurt demand for raw materials. Vale rose 2.7 percent to 25.97.

Cyrela Brazil Realty SA Empreendimentos & Participacoes (CYRE3 BS), Gafisa SA (GFSA3 BS) and Rossi Residencial SA (RSID3 BS): The lowered benchmark interest rate may signal lower mortgage costs. Cyrela, Brazil’s biggest homebuilder, rose 4.9 percent to 8.78 reais. Second-biggest Gafisa rose 3.1 percent to 10.72 reais, while third-biggest Rossi rose 4.5 percent to 4.44 reais.

Colombia

Cementos Argos SA (CEMARGOS CB): Colombia will spend as much as 55 trillion pesos ($24.5 billion) on infrastructure projects this year to bolster the nation’s flagging economy. Cementos Argos, the country’s biggest cement company, fell 1.5 percent to 6,600 pesos.

Mexico

Grupo TMM SAB (TMMA MM): Mexico’s Congress urged President Felipe Calderon yesterday to lower costs for diesel fuel to help the agricultural, transportation and fishing industries. TMM operates truck and marine businesses. TMM fell 2.4 percent to 14.40 pesos when it last traded on Jan. 19.

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