Cemex, Gerdau, Suzano, Vale, Walmex: Latin Equity Preview

By Emily Schmall

Sept. 23 (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 1 percent to 3,643.10. In Brazil, preferred shares usually are the most-traded class of stock.

Argentina

Transportadora de Gas del Norte SA (TGNO4 AR): The Argentine gas pipeline operator reached restructuring agreements with five institutional bondholders, representing 45 percent of bonds that TGN is attempting to swap, it wrote in a filing posted yesterday on the Buenos Aires stock exchange’s Web site. TGN rose 3.2 percent to 68 centavos.

Brazil

Gerdau SA (GGBR4 BS): Latin America’s largest steelmaker increased output of the metal to 75 percent of its global capacity to meet demand, up from 60 percent to 70 percent in July, Chief Executive Officer Andre Gerdau Johannpeter said. The company keep steel prices unchanged this year, O Estado de S. Paulo reported, citing the CEO. Gerdau rose 0.8 percent to 24.70 reais.

Suzano Papel e Celulose SA (SUZB5 BS): Latin America’s second-biggest pulp maker plans to raise pulp price amid growing demand from China, said Chief Executive Officer Antonio Maciel Neto. The price increase may take effect on Oct. 1, Maciel Neto said. Suzano rose 0.7 percent to 18.60 reais.

Vale SA (VALE5 BS): Brazil’s government wants Vale, the world’s biggest iron-ore producer, to become a major steelmaker to compete with ArcelorMittal, the world’s largest producer of the metal, Mining and Energy Minister Edison Lobao said yesterday. Separately, Vale, also the world’s second-biggest nickel producer, said it is sending ore from a nickel mine in Sudbury, Canada, to a mill as it prepares to partially restart output amid a strike. Vale gained 2.6 percent to 37.02 reais.

Colombia

Cia. Colombiana de Inversiones SA (COLINV CB): The Medellin-based holding company known as Colinversiones will absorb five energy-related subsidiaries as it seeks to simplify its structure. The company’s board unanimously approved the consolidation of Generar SA, Merilectrica SA, Merilectrica SA & Cia., Cia. Colombiana de Energía and Hidromontanitas SA, it said in a filing on the regulator’s Web site. Colinversiones rose 4 percent to 40,000 pesos.

Mexico

Cemex SAB (CEMEXCPO MM): The world’s third-largest cement company said Spanish authorities searched the company’s premises in Spain as part of an investigation of price fixing and market- sharing agreements. Antitrust convictions carry penalties of as much as 10 percent of sales volume, Cemex said in a statement to the Securities and Exchange Commission. Cemex fell 1 percent to 17.22 pesos.

Wal-Mart de Mexico SAB (WALMEXV MM): Latin America’s largest retailer had its price estimate raised to $46 from $35 at Morgan Stanley, according to a research report yesterday. Walmex fell 0.4 percent to 48.63 pesos.

To contact the reporter on this story: Emily Schmall in Mexico City at Eschmall@bloomberg.net