Banco Macro, Banorte, Sabesp, VisaNet: Latin Equity Preview

By Emily Schmall

Aug. 7 (Bloomberg) -- The following companies may have unusual price changes in Latin American trading. Stock symbols are in parentheses and share prices reflect the previous close.

The MSCI Latin America Index fell 0.6 percent to 3,366.16. In Brazil, preferred shares usually are the most-traded class of stock. Colombia markets are closed today for a holiday.

Argentina

Banco Macro SA (BMA AF): Argentina’s fourth-largest private lender reported second-quarter net income of 163.2 million pesos ($43 million), up from 161 million pesos a year earlier, according to a statement distributed by PRNewswire. Macro rose 1.7 percent to 7.12 pesos.

Brazil

Cia. Brasileira de Meios de Pagamento (VNET3 BS): The credit-card company known as VisaNet is being investigated for possible anti-competitive practices by the Brazilian Justice Ministry. As a preventive measure, the Ministry will allow other companies to accredit businesses to accept Visa-branded cards. VisaNet fell 3.8 percent to 17.70 reais.

Cia de Saneamento Basico do Estado de Sao Paulo (SBSP3 BS): Brazil’s biggest water utility will likely report today that profit climbed 15 percent in the second-quarter to 415.4 million reais ($225.5 million), from 360 million reais in the year- earlier period, according to the average of 5 estimates compiled by Bloomberg. Sabesp, as the Sao Paulo-based utility is known, rose 1.5 percent to 32.25 reais.

Chile

Sonda SA (SONDA CC): Chile’s biggest independent software company was scheduled to close its offer to buy all shares in rival Quintec SA (QUINTEC CC) for 165 pesos each by midnight. Sonda rose 0.4 percent to 765 pesos, while Quintec was little changed at 168 pesos.

Mexico

Grupo Financiero Banorte SAB (GFNORTEO MM): Moody’s Investors Service may downgrade Banorte’s local currency deposit and debt ratings. Mexico’s largest publicly-traded lender’s credit card portfolio “could weaken its future earnings and risk-absorption capacity,” Moody’s said in a statement yesterday. Banorte rose 1.6 percent to 34.88 pesos.

To contact the reporter on this story: Emily Schmall in New York at eschmall@bloomberg.net.