Braskem, Cicsa, Endesa, Geo, Masisa, Tam: 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 rose 5.9 percent to 4,243.88 yesterday.

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

Brazil

Banestes SA Banco do Estado do Espirito Santo (BEES3 BS): The bank controlled by the state government of Espirito Santo plans to sell non-voting shares in an additional offering. The bank will sell new shares and the state government will sell a minority stake of existing shares, according to a filing posted yesterday on Brazil's securities regulator Web site. Banestes didn't disclose the amount or price of preferred shares that it plans to sell. The Vitoria, Brazil-based bank fell 16 centavos, or 10 percent, to 1.42 reais.

Braskem SA (BRKM5 BS): Latin America's biggest petrochemical company was given a new Ba1 rating by Moody's Investors Services, one level below investment grade. Sao Paulo- based Braskem has ``moderate pricing power'' for its products and ``above industry average'' margins, the ratings company wrote in a statement distributed yesterday. Braskem rose 68 centavos, or 4.8 percent, to 14.79 reais.

TAM SA (TAMM4 BS): Chief Executive Marco Bologna stepped down yesterday and will be replaced by David Barioni Neto as head of Brazil's biggest airline by market share. Barioni, who was hired away from rival Gol Linhas Aereas Inteligentes SA this year, was formerly the vice president of operations of TAM, the company said in a statement distributed yesterday by PR Newswire. TAM rose 2.04 reais, or 4.3 percent, to 49.53 reais.
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