Axtel, Bematech, Cresud, Tenaris, Urbi: 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 Morgan Stanley Capital International index of Latin American shares fell 2.4 percent to 4,391.86 yesterday. Markets in Argentina were closed yesterday for a holiday.

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

Argentina

Banco Hipotecario SA (BHIP AF): Argentina's largest mortgage bank reported a third-quarter loss of 102.1 million pesos ($32.6 million), its first loss in 16 quarters. The bank had losses on central bank notes, government and corporate bonds and equities, the Buenos Aires-based bank wrote in a Nov. 5 statement distributed by PR Newswire. Hipotecario fell 11 centavos, or 4.4 percent, to 2.42 pesos.

Cresud SA (CRES AF): The Buenos Aires-based agriculture company reported a fiscal first-quarter loss of 12.6 million pesos ($4.01 million) compared with profit of 1.9 million pesos a year earlier. The result stemmed mainly from losses from interest in related companies, Cresud said in a Nov. 6 regulatory filing. Shares fell 3 centavos, or 0.4 percent, to 7.81 pesos.

IRSA Inversiones y Representaciones SA (IRSA AF): Argentina's biggest real-estate developer reported a 30 million peso ($9.58 million) loss in its fiscal first quarter, compared with a 15.6 million peso profit a year earlier. The result for the three months ended Sept. 30 reflects higher financial expenses and securities losses by mortgage lender Banco Hipotecario, IRSA wrote in a Nov. 5 statement distributed by PR Newswire. IRSA owns 12 percent of Hipotecario. Shares dropped 20 pesos, or 3.5 percent, to 5.55 pesos.

Petrobras Energia SA (PESA AR): The Argentine unit of Brazil's state-owned oil company will probably report a 70 million peso ($22.3 million) profit this quarter from the sale of its 76 percent stake in the Bajada del Palo oil concession, the company wrote in a regulatory filing yesterday. Petrobras Energia shares were unchanged at 9.30 pesos when they last traded Nov. 1.

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