By John Detrixhe
Feb. 4 (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 3 percent to 2,092.31 on Tuesday. In Brazil, preferred shares usually are the most-traded class of stock.
Argentina
Petrobras Energia Participaciones SA (PBE AF): Shareholders approved a planned merger between the Argentine unit of Brazil’s state-run oil producer and its holding company, according to stock exchange filings posted yesterday. Petrobras Energia Participaciones rose 5.2 percent to 2.44 pesos.
Brazil
Banco do Brasil SA (BBAS3 BS): Latin America’s biggest state-controlled bank will cut rates an average of 4.6 percent on working capital loans starting Feb. 5, according to an e- mailed statement. Banco do Brasil rose 3.1 percent to 14.18 reais.
BM&FBovespa SA (BVMF3 BS): Latin America’s biggest exchange said foreign investors pulled 646 million reais ($279.9 million) from Brazilian stocks last month, extending the longest streak of outflows since at least 1995. BM&FBovespa rose 2 percent to 6.66 reais.
Petroleo Brasileiro SA (PETR4 BS): Brazil’s state- controlled oil company and partner El Paso Corp. must return 25 percent of an offshore exploration block in Brazil’s Espirito Santo basin after a discovery deadline expired. Petrobras rose 3.6 percent to 25.58 reais.
To contact the reporter on this story: John Detrixhe at jdetrixhe1@bloomberg.net
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