Brazilian company to rebuild crucial Angola dam

(Reuters) - Brazilian company Odebrecht is set to rebuild a crucial hydroelectric dam in Angola, raising hopes that foreign investment will boost an electricity industry battered by civil war, a state official said on Thursday.

The $158 million, 20-month project approved by the Angolan cabinet on Wednesday, has raised hopes that businesses in the southern region stand to benefit from investment.


Read more at Reuters Africa

Brazilians Hail Taxis for City-to-City Rides as Chaos Besieges Air Travel

(Bloomberg) -- Carlos Amorim stepped on an
interstate bus last week for the first time in three decades.

For six years, he made the 429-kilometer (267-mile) trip to
Sao Paulo from Rio de Janeiro by plane. Like thousands of other
Brazilians, he's switching to travel by bus, car or private jet
to avoid long lines and delays at airports.


Read more at Bloomberg Exclusive News

UPDATE 1-Chile bottler Andina first half net up 9.9 pct

(Reuters) - Andina , which bottles and distributes
Coca-Cola products in Chile, Brazil and Argentina, said
profit for the January-June period was 35.014 billion pesos
versus 31.847 billion pesos in the same period
last year.




"This first quarter we had good results because of a rise
in volume, a rise in real prices and a positive macroeconomic
environment," the company said in a statement.


Read more at Reuters.com Market News

UPDATE 2-Brazil cenbank says future rate cuts need caution

(Reuters) - SAO PAULO, Brazil, July 26 - Brazil's central
bank said the country's strong currency has allowed for deeper
interest rate cuts, but that accelerating economic growth will
require it to be especially cautious about future rate
reductions.




In minutes released on Thursday from its rate-setting
meeting last week, the bank's monetary policy committee also
said that despite uncertainties about the strength of the U.S.
economy the outlook for continued dollar inflows to Brazil
remained positive.


Read more at Reuters.com Economic News

Global Stocks Drop; Investors Shun Risk as Credit Market Turmoil Worsens

(Bloomberg) -- Stocks fell around the world and U.S.
Treasuries rallied on concern higher borrowing costs will slow
takeovers, spur debt defaults and curb earnings, prompting
investors to flee riskier assets.

The Standard & Poor's 500 Index fell to its lowest in a
month, while Europe's Dow Jones Stoxx 600 Index dropped 1.8
percent, its biggest retreat since March. Benchmark stock indexes
in Brazil, Mexico, Argentina, Korea, Poland, Russia and Turkey
fell more than 2 percent.


Read more at Bloomberg Stocks News

Brazilian Real Falls as Risk Aversion Mounts on Weakness in U.S. Housing

(Bloomberg) -- Brazil's real fell a second straight
day on concern that a housing slump in the U.S. is worsening,
boosting aversion to riskier emerging-market assets.

A decline in sales of existing homes in the U.S. last month
may fuel speculation the world's largest economy will slow,
sapping demand for basic materials such as iron ore and steel.
The Brazilian currency has gained 14.2 percent this year amid
demand for such commodities and for local financial securities.


Read more at Bloomberg Currencies News

Brazil's Bovespa Falls, Led by Petrobras, on Tax Bill; TV Azteca Declines

(Bloomberg) -- Brazil's main stock index slid the most
in six weeks, led by state-controlled oil company Petroleo
Brasileiro SA, as the company received a bill for $710 million in
unpaid taxes and oil prices dropped.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange fell 800.03, or 1.4 percent, to 57,236.74 as of 1:20 p.m.
New York time. Petrobras accounted for more than a quarter of the
drop. Mexico's benchmark Bolsa index declined 295.91, or 0.9
percent, to 31,872.52.


Read more at Bloomberg Stocks News

Brazil's Real Holds Near Seven-Year High Before Expected Central Bank Cut

(Bloomberg) -- Brazil's currency held near a seven-
year high before an expected rate cut by the central bank.

``Lower interest rates will support the real because it
will attract foreign capital to short-term fixed-income
assets,'' said Tony Volpon, an economist in Sao Paulo at CM
Capital Markets.


Read more at Bloomberg Currencies News

Avocent, Delphi, Humana, IndyMac Bancorp, Warner: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 1:10 p.m. New York time.

Brazilian airline American depositary receipts fell after a
passenger plane owned by Tam SA crashed on landing at Sao Paulo's
domestic airport, killing as many as 200 people in the country's
worst air disaster. Tam's ADRs (TAM US), each worth one share,
fell $2.99, or 8.3 percent, to $32.84. Gol Linhas Aereas
Inteligentes SA's ADRs (GOL US), each worth one share, fell
$1.27, or 4.2 percent, to $29.14.


Read more at Bloomberg Stocks News

Mexico's Bolsa Falls on Earnings Concern, Led by Cemex: Bancolombia Gains

(Bloomberg) -- Mexico's Bolsa index fell for a second
day on concern that second-quarter earnings reports will show
stocks are overvalued.

The Bolsa declined 248.71, or 0.8 percent, to 32,017.22 as of
1:01 p.m. New York time. Brazil's Bovespa index of most-traded
shares on the Sao Paulo exchange was little changed, rising 47.76,
or 0.1 percent, to 57,422.16.


Read more at Bloomberg Stocks News

Alfa, America Movil, Grupo Mexico, Sadia: Latin American Equity Preview

(Bloomberg) -- 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.


Read more at Bloomberg Stocks News

Bradesco, Equatorial, Gerdau, Tam, Vale do Rio Doce: Brazil Equity Movers

(Bloomberg) -- Brazil's main stock index was little
changed, with mining company Cia. Vale do Rio Doce rising and
steelmaker Gerdau SA falling.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange rose 26.87, or less than 0.1 percent, to 55,909.57 as of
9:44 a.m. New York time.


Read more at Bloomberg Stocks News

Alsea, Bancolombia, Gol, Tam, Televisa: Latin American Equity Preview

(Bloomberg) -- The following stocks may make
significant gains or losses in Latin American markets
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.


Read more at Bloomberg Stocks News

Chile Stocks Fall as Economy Slows, Led by Endesa; Vale Gains in Brazil

(Bloomberg) -- Chile's main stock index fell the most
in almost a month on concern that shares have risen faster than
warranted by the country's economic growth.

Chile's Ipsa index of 40 stocks fell a second day, shedding
36.08, or 1 percent, the most since June 7, to 3455.38. Brazil's
Bovespa index rose 0.4 percent, while Mexico's Bolsa index was
little changed.


Read more at Bloomberg Stocks News

BR Malls, Eletropaulo, Petrobras, Telemar: Brazil Equity Market Movers

(Bloomberg) -- Brazil's main stock index rose for a
sixth day, led by mobile-phone company Tele Norte Leste
Participacoes SA.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange gained 169.22, or 0.3 percent, to a record 55,868.91 as
of 9:57 a.m. New York time.


Read more at Bloomberg Stocks News

Brazil Bond Yields Rise After Output Increases More Than Forecast in May

(Bloomberg) -- Brazil's bond yields rose after a
larger-than-expected increase in industrial production bolstered
speculation the central bank will stop cutting interest rates.

Brazil's central bank lowered the benchmark lending rate by
half a percentage point to a record low of 12 percent on June 6,
the 16th consecutive decrease. The bank has cut the target from
a high of 19.75 percent in September 2005.


Read more at Bloomberg Currencies News

Brazil's Real Strengthens on Expectations Export Trade to Continue Robust

(Bloomberg) -- Brazil's currency gained for a second
day on bets the country's trade surplus will continue surprising
analysts on the upside as exports rise.

``The trade data released yesterday was reassuring because
even with the appreciation of the real, exports are very
strong,'' said Reginaldo Galhardo, currency director of Treviso
Corretora, a Sao Paulo brokerage. He predicts the real will
trade at about 1.90 per dollar by the end of the year amid
increasing inflows from purchases of local financial assets by
foreign investors.


Read more at Bloomberg Currencies News

Coffee Falls in New York on Rising Stockpiles, Favorable Weather in Brazil

(Bloomberg) -- Coffee in New York fell as U.S.
inventories increased and favorable weather spread over growing
regions in Brazil, the world's largest producer.

Stockpiles in warehouses monitored by the New York Board of
Trade rose to 4.17 million bags as of June 28, a gain of almost
8,800 bags from the previous day. There were 4.06 million bags
stored at the exchange's delivery points in New York, New
Orleans, Antwerp, Hamburg and Miami at the end of May.


Read more at Bloomberg Commodities News

White Sugar Falls for 2nd Day After F.O. Licht Raises Production Forecast

(Bloomberg) -- White sugar fell for a second
straight trading session in London after German commodity
research company F.O. Licht lifted its production forecast.

Global sugar-cane output, led by an increase from India,
will be 4.6 percent higher than previously forecast, bolstering
a surplus, F.O. Licht said in an e-mailed report today. Output
will be 130 million tons in the 2006-2007 season, up 19 percent
from last year, the Ratzeburg, Germany-based group said. India
is the world's second-biggest producer, after Brazil.


Read more at Bloomberg Commodities News

Cemig, Grupo Imsa, Petrobras, Positivo, TV Azteca: Latin Equity Preview

(Bloomberg) -- 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. Markets in Chile are closed today for a holiday.


Read more at Bloomberg Stocks News