Ekco, Grupo Mexico, Petrobras, Telmex: 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 fell 0.6 percent to 4,292.56 yesterday. Brazilian markets were closed for a holiday yesterday.

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

Brazil

Redecard SA (RDCD3 BS): Bear Stearns & Co. reiterated its ``outperform'' rating on the processor of credit card and debit card transactions, analyst Paulo Ribeiro wrote in a research note yesterday after spending time ``on the road'' with the company's management. Redecard fell 1.41 real, or 4 percent, to 33.50 reais on Nov. 19.

Petroleo Brasileiro SA (PETR4 BS): Brazil's state- controlled oil company may rise after its Argentine listing (APBR AF) gained 2.2 percent and crude oil rose to a record yesterday when Sao Paulo trading was closed. Also, operations started at the company's FPSO Cidade de Vitoria platform in Espirito Santo Sea, the company said in a Nov. 19 statement. In Sao Paulo, shares fell 1.5 real, or 1.9 percent, to 77.30 reais.

Chile

Embotelladora Andina SA (ANDINAB CC): David Riedel of Riedel Research upgraded Chile's Coca-Cola distributor to ``buy,'' he wrote in an e-mailed research note yesterday, citing positive prospects at its Brazilian operations and the company's ``solid'' financial profile. Andina fell 19 pesos, or 1.2 percent, to 1,560 pesos in Santiago yesterday.

Mexico

Ekco SAB (EKCO* MM): The Mexican producer of steel and aluminum cookware said shareholders will have 15 days starting Nov. 26 to buy stock in a rights offering of as many as 31 million new shares. The price for shareholders is 9.27 centavos each, Ekco said in an e-mail statement to the Mexican stock exchange yesterday. Ekco shares fell 24 centavos, or 3.7 percent, to 6.20 pesos.

Grupo Mexico SAB (GMEXICOB MM): A railroad unit of Mexico's largest copper miner said it repaid 697.8 million pesos ($63 million) in debt to Banco Inbursa SA. Ferrocarril Mexicano SA also loaned 604 million pesos to parent Grupo Ferroviario Mexicano, the subsidiary said in a statement e-mailed by the Mexican stock exchange yesterday. Grupo Mexico shares fell 2.60 pesos, or 3.3 percent, to 75.43 pesos.

Telefonos de Mexico SAB (TELMEXL MM): Mexico's largest fixed-line phone company said it is ``ready'' to sign a deal to connect calls with Grupo Televisa SAB's cable unit. Telmex, as the fixed-line company is known, invited the cable unit to sign the interconnection agreement ``as soon as possible,'' it said in a statement e-mailed to the Mexican stock exchange yesterday. Telmex was ordered to connect calls with Televisa by Mexican regulators last week. Telmex shares fell 54 centavos, or 2.7 percent, to 19.51 pesos.
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