Latin Equity Preview

The following stocks may make significant gains or losses in Brazil and Mexico today. Symbols are in parentheses after the company name, and stock prices are from the last session.

In Brazil, preferred shares are the most commonly traded class of stock.

Brazil

Petroleo Brasileiro SA (PETR4 BS): Brazil's National Petroleum Agency ordered state-controlled oil company Petrobras to pay 1.3 billion reais ($710 million) of amounts that were incorrectly deducted from its tax bill, O Globo's newswire said yesterday, citing Haroldo Lima, head of the agency. A spokeswoman for the agency confirmed the amount when called by Bloomberg News. Celso Mansur, a spokesman for Petrobras, did not answer telephone calls. The shares rose 92 centavos, or 1.6 percent, to 57.50 reais.

Gol Linhas Aereas Inteligentes SA (GOLL4 BS) and TAM SA (TAMM4 BS): Brazil canceled plans yesterday to reopen the main runway at Sao Paulo's Congonhas airport today after an embankment, damaged in last week's deadly crash, collapsed during a rainstorm. TAM, the country's biggest airline by market share, and Gol, the second-biggest by market share, both operate out of Congonhas, Brazil's busiest airport. TAM shares fell 65 centavos, or 1.2 percent, to 54.35 reais. Gol shares fell 1.29 real, or 2.5 percent, to 50.76 reais.

Cia. Siderurgica Nacional (CSNA3 BS): Brascan Corretora analyst Rodrigo Ferraz reiterated his ``underperform'' rating on Brazil's second-biggest steelmaker. The acquisition of Cia. de Fomento Mineral e Participacoes for $440 million comes at a cost of $81 a ton of ore produced, or 32 percent more than a comparable project by Cia. Vale do Rio Doce, Ferraz wrote in a note e-mailed yesterday. The shares rose 2.50 reais, or 2.4 percent, to 107.50 reais.

Mexico

Grupo Aeroportuario del Sureste SAB (ASURB MM): The operator of nine Mexican airports reported second-quarter earnings a U.S. share of 72 cents, beating the 56-cent forecast of Morgan Stanley analyst Nicolai Sebrell by 28 percent, leading him to raise estimates of full-year profits and price. Asur gained from higher-than-expected commercial revenue, Sebrell said in a research note e-mailed yesterday. Shares gained 1.60 pesos, or 2.8 percent, to 59.10 pesos.

Grupo Televisa SA (TLEVICPO MM): The world's largest Spanish-language broadcaster said net income fell 12 percent to 2.03 billion pesos ($188 million) as advertising sales slumped. Revenue was little changed at 9.81 billion pesos, Televisa said yesterday in an e-mail statement. Shares fell 30 centavos, or 0.5 percent, to 59.41 pesos.

TV Azteca SA (TVAZTCPO MM): Mexico's second-largest broadcaster after Televisa said second-quarter sales fell 19 percent to 2.76 billion pesos and net income declined by two- thirds to 218 million pesos from a year ago. Results were affected by extraordinary events in last year's second quarter, Chief Executive Officer Mario San Roman said in a statement e- mailed to the Mexican stock exchange yesterday. Shares fell 2 centavos, or 0.3 percent, to 7.65 pesos.

source:bloomberg.com