UPDATE 3-Brazil primary budget surplus rises to June record

(Reuters) - BRASILIA, July 31 - Brazil's consolidated primary
budget surplus grew to a record for the month of
June, climbing to 11.65 billion reais from a
surplus of 10.44 billion reais a year earlier, the central bank
said on Tuesday.




The result was higher than the 9.9 billion reais median
estimate of 18 economists in a Reuters poll. The estimates
ranged from 6.0 billion reais to 12.1 billion reais. In May,
the consolidated primary surplus was 9.3 billion reais.


Read more at Reuters.com Economic News

Agco profits beats forecasts, raises estimates

(Reuters) - CHICAGO, July 31 - Agricultural equipment maker Agco Corp. said on Tuesday that its quarterly earnings surged a stronger-than-expected 56 percent, helped by robust sales in South America, especially Brazil.



The company also raised its guidance for the full year, sending its shares higher in early trading.


Read more at Reuters.com Market News

WRAPUP 1-LatAm markets breathe easier, helped by Wall St

(Reuters) - Equity markets posted the largest gains, with Brazilian
stocks rallying more than 3 percent after losses of almost 8
percent last week. Mexican and Argentine stocks followed suit,
with gains of more than 1.5 percent each.




"For me, this is only an adjustment. It is not a sign that
the upward trend is back, we can't affirm that yet," said Nami
Neneas, head of equities at Banif brokerage in Sao Paulo.


Read more at Reuters.com Bonds News

Coffee Rises in New York on Forecasts for Cold in Brazil's Growing Areas

(Bloomberg) -- Coffee rose in New York on
speculation that colder-than-normal weather in Brazil, the
world's largest producer, may develop into a crop-damaging
frost.

Temperatures may fall to 42 degrees Fahrenheit (6 degrees
Celsius) through Aug. 1 in Brazil's major coffee-growing
regions, according to Meteorlogix LLC in Woburn, Massachusetts.
Cold air moved into the coffee belt today, and a separate high-
pressure ridge may bring lower-than-normal temperatures into
southern Brazil on Aug. 5, the private forecaster said.


Read more at Bloomberg Commodities News

Gol, Sadia, TAM, Vivo and Vale do Rio Doce: Brazil Equity Market Movers

(Bloomberg) -- Brazil's main stock index fell for a
second day, led by mining company Cia. Vale do Rio Doce.

The Bovespa Index of the most-traded stocks on the Sao
Paulo exchange fell 71.66, or 0.1 percent, to 53,821.49 as of
10 a.m. New York time.


Read more at Bloomberg Stocks News

WRAPUP 1-Latam stocks, currencies fall in emerging markets slide

(Reuters) - Brazil's real fell 1.45 percent to 1.894 to the
dollar and its Bovespa stock market index plunged 3.8 percent
to 53,864 points.




The Mexican peso weakened 0.74 percent to
10.95 to the dollar, and the Mexican stock market fell 2
percent at 30,482 points.


Read more at Reuters.com Bonds News

UPDATE 1-Brazil's Telemar profit soars 65 percent

(Reuters) - Telemar, which controls Brazil's largest fixed-line
operator and the wireless company Oi, attributed the higher
earnings to 369,000 new users, 30 percent more than in the
preceding quarter; a strong operating performance; and
favorable interest rates and foreign exchange.




The profit was 36 percent higher than in the first
quarter.


Read more at Reuters.com Market News

Coffee Falls as New Forecasts Ease Threat of Freeze Damage to Brazil Crop

(Bloomberg) -- Coffee fell from a four-week high in
New York as concerns eased that a crop-damaging frost may
develop in Brazil, the world's largest producer.

No freezing weather is forecast through July 28 in Brazil's
growing regions, said forecaster Meteorlogix LLC in Woburn,
Massachusetts. Northern Parana and western Sao Paulo states will
see temperatures as low as 41 degrees Fahrenheit (5 degrees
Celsius). Forecasts for colder-than-normal weather helped send
prices yesterday to their biggest gain in seven weeks.


Read more at Bloomberg Commodities News

Brazil's Bovespa Falls, Led by Petrobras, on Tax Bill, Drop in Oil Prices

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

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange fell 551.49, or 1 percent, to 57,485.28 as of 11:08 a.m.
New York time. Petrobras accounted for one-fourth of the drop.


Read more at Bloomberg Stocks News

TEXT-S&P release on structured finance market in Brazil

(Reuters) - And according to a new report published by Standard & Poor's Ratings
Services, the country is expected to launch a residential mortgage-backed
securities sector later this year.




A combination of positive factors is responsible for the development of
RMBS in Brazil: a favorable economy, market stability, declining interest
rates, an enormous housing deficit, and increasing homebuilding and
house-financing activities. In addition, several banks with relevant home loan
portfolios have publicly stated their interest in securitizing part of these
assets .


Read more at Reuters.com Bonds News

Brazil's Real Holds Near Seven-Year High Amid Bets of Further Dollar Flows

(Bloomberg) -- Brazil's real held near an almost
seven-year high on speculation dollars from exports and foreign
direct investment will continue flooding local markets.

``We've seen incredible amounts of foreign direct
investment over the past few months, reaching a record in June.
That type of flow will grow, regardless of how fast our interest
rates fall,'' said Mario Cebrian, head of foreign currency
trading at Banco Standard de Investimento in Sao Paulo.


Read more at Bloomberg Currencies News

Foreigners say Brazil needs outside aviation help

(Reuters) - The call for intervention, which would have to be approved
by the government, came just days after nearly 200 people were
killed in Brazil's worst ever plane crash and a radar outage
over the Amazon forced scores of flights to change course.




"Brazilian authorities are too busy trying to save face.
They're putting the traveling public at risk," Marc
Baumgartner, president of the International Federation of Air
Traffic Controllers' Associations, told Reuters.


Read more at Reuters.com Bonds News

CSN, Sabesp, Tecnisa, Usiminas and Vale do Rio Doce: Brazil Equity Movers

(Bloomberg) -- Brazil's main stock index rose for the
second time in three days, led by mining company Cia. Vale do Rio
Doce.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange gained 239.50, or 0.4 percent, to 57,682.24 as of 9:42
a.m. New York time.


Read more at Bloomberg Stocks News

Telecom Italia's TIM Brasil posts 2nd-qtr profit

(Reuters) - Net revenue grew 34.5 percent to 3.06 billion reais.




The unit of Telecom Italia has 27.5 million
clients in Brazil, where it is one of the three main wireless
phone service providers.


Read more at Reuters.com Market News

Petrobras Sells 50 Percent Stake in Argentine Power Utility to Government

(Bloomberg) -- Petroleo Brasileiro SA, Brazil's
state-owned energy company, sold a stake in an Argentine power
utility to government-owned energy companies.

Petrobras sold its 50 percent stake in Transener SA for $54
million to a group formed by Argentine state-energy company
Enarsa and Cordoba-based power unit Electroingenieria, the
Brazilian company said today in an e-mailed statement.


Read more at Bloomberg Emerging Markets News

Bear Stearns, Delphi, Macy's, Newmont, Pulte, UAL: 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 2:40 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 $3.28, or 9.2 percent, to $32.55. Gol Linhas Aereas
Inteligentes SA's ADRs (GOL US), each worth one share, fell
$1.20, or 4 percent, to $29.21.


Read more at Bloomberg Stocks 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

Orange-Juice Rises Most in Two Weeks as Processors Buy After Price Slump

(Bloomberg) -- Orange juice in New York rose the
most in two weeks on speculation processors are taking
advantage of cheap supplies that may become more expensive as
the most active part of Florida's hurricane season nears.

Futures have dropped 34 percent this year partly on
forecasts that Florida, the largest grower after Brazil, will
produce a bigger crop in the harvest starting in October than
the season that wrapped up in June. Prices tend to rise sharply
as hurricanes move closer to Florida's groves.


Read more at Bloomberg Commodities News

Humana, I2, NovaStar, Pfizer, Piper, SemGroup, 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 11:40 a.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 $2.37, or 6.6 percent, to $33.46. Gol Linhas Aereas
Inteligentes SA's ADRs (GOL US), each worth one share, fell
$1.26, or 4.1 percent, to $29.15.


Read more at Bloomberg Stocks News

Tam, Gol Shares Tumble After Airplane Crash in Brazil Kills as Many as 200

(Bloomberg) -- The shares of Tam SA and Gol Linhas
Aereas Inteligentes SA, Brazil's biggest two airlines, fell after a
crash in Sao Paulo's city airport claimed the lives of as many as
200 people in the country's worst air disaster.

The A320 plane, built by Airbus SAS and operated by Tam, slid
off the runway, crossed a highway and slammed into a gas station
and building last night. Rescue workers pulled 102 bodies from the
debris. Survivors probably won't be found on the plane, which was
carrying 186 people when it crashed and burst into flames, Sao
Paulo State Governor Jose Serra said.


Read more at Bloomberg Emerging Markets News