By Paulo Winterstein and James Attwood
Feb. 9 (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 5.8 percent to 2,285.60 on Feb. 6. In Brazil, preferred shares usually are the most- traded class of stock.
Brazil
Banco do Brasil SA (BBAS3 BS): Brazil’s central bank approved the purchase of Banco do Estado de Santa Catarina SA by Banco do Brasil, Latin America’s biggest state-controlled bank. Banco do Brasil rose 1.3 percent to 14.58 reais.
Universo Online SA (UOLL4 BS): Online advertising during the first 11 months of 2008 rose 46 percent from the previous year. UOL, as the Internet provider is known, has a 30 percent share of the online advertising market, Fator Corretora analyst Jacqueline Lison wrote. UOL rose 2.9 percent to 7.20 reais.
Colombia
Ecopetrol SA (ECOPETL CB): Colombia’s state-controlled oil company aims to double Petro-Tech Peruana SA’s crude output within three years, Ecopetrol Vice President Nelson Navarrete said in an interview. Ecopetrol and Korea National Oil Corp. bought the Peruvian company for $900 million. Ecopetrol rose 1.9 percent to 2,150 pesos.
Isagen SA (ISAGEN CB): The electricity company was reiterated “sell” at brokerage Interbolsa SA, which said in a Feb. 6 note that the stock trades at a “rich” premium to its global peers. Interbolsa assigned an end-2009 price forecast of 1,493 pesos, down from a 2008 estimate of 1,630 pesos. Isagen rose 1 percent to 1,935 pesos.
Mexico
Telefonos de Mexico SAB (TELMEXL MM): Mexico’s largest fixed-line provider is expected to report net income of 5.6 billion pesos ($390 million) when it announces earnings today, according to the mean estimate of two analysts surveyed by Bloomberg. Telmex rose 31 centavos to 12.64 pesos.
To contact the reporter on this story: Paulo Winterstein in Sao Paulo at pwinterstein@bloomberg.net.
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