Alfa, Banorte, Cosan Industria, Vale: Latin Equity Preview

The following stocks may make significant gains or losses in Latin American markets today. Symbols are in parentheses after company names, and stock prices are from the last session.

The MSCI index of Latin American shares rose 1 percent to 4,177.09 yesterday. In Brazil, preferred shares are the most commonly traded class of stock.

Brazil

Cia. Vale do Rio Doce (VALE5 BS): The world's largest iron- ore producer will postpone about 20 iron-ore shipments in December. The number of ships waiting to load ore at Vale's Ponta da Madeira port near Sao Luis, Brazil, doubled to 14 today from seven a month earlier, Vale said on its Web site yesterday. Seasonal rains reduced output, and protests that blocked a railroad disrupted shipments from Carajas, the world's biggest iron-ore mine, spokesman Fernando Thompson said yesterday in a phone interview. Vale shares rose 40 centavos, or 0.8 percent, to 49 reais.

Cosan SA Industria e Comercio (CSAN3 BS): The world's biggest sugar-cane processor may lose revenue as sugar prices drop on speculation supply is expanding. The supply surplus, mostly caused by higher production in India, may reach 14 million metric tons this season, equal to about 10 percent of global demand, according to ED&F Man Holdings Ltd., the largest sugar trader. Cosan shares rose 33 centavos, or 1.6 percent, to 20.98 reais.

Mexico

Alfa SAB (ALFAA MM): Fitch Ratings gave an AA rating to 2.5 billion pesos ($227.7 million) of domestic debt issued by the Nemak unit of Mexico's largest maker of engine heads, Fitch said in a statement e-mailed yesterday. The rating is the third- highest for domestic debt. The 7-year notes are partially guaranteed by a government investment agency, Fitch said. Alfa shares were unchanged at 70.17 pesos.

Grupo Financiero Banorte SA (GFNORTEO MM): Mexico's largest publicly traded bank said it sold 5.34 billion pesos ($487 million) of bonds backed by municipal and state government loans. The bank did not disclose additional details about the debt in a statement e-mailed yesterday. Banorte shares rose 45 centavos, or 1 percent, to 46.31.
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