Latin Stocks Head for Biggest Weekly Loss in 5 Months; Cemex Shares Fall

(Bloomberg) -- Latin American stocks headed for
their biggest weekly slide in five months after investors sold
riskier assets on concern that higher borrowing costs will curb
earnings and economic growth.

The Morgan Stanley Capital International index of Latin
American shares fell 1 percent to 3712.43 as of 1:28 p.m. New
York time. That brought its loss since July 20 to 7.6 percent.
Monterrey, Mexico-based cement-maker Cemex SAB led the retreat.


Read more at Bloomberg Emerging Markets News

Mexico Bolsa Falls on Growth Concern; America Movil Slips; Petrobras Gains

(Bloomberg) -- Mexican shares fell for a second day on
concern subprime loan losses in the U.S. may signal a further
weakening in the economy that buys 80 percent of Mexican exports
and lead to higher borrowing costs.

Mexico's Bolsa index retreated 286.97, or 0.9 percent, to
31,175.18 as of 3:24 p.m. New York time, led by mobile phone
company America Movil SAB. The Bovespa Index of the most-traded
stocks on the Sao Paulo exchange was little changed.


Read more at Bloomberg Stocks News

U.K. FTSE 100 Index Pares Losses; Paced by SABMiller, Vodafone Group

(Bloomberg) -- U.K. stocks pared losses, paced by
SABMiller Plc and Vodafone Group Plc.

The benchmark FTSE 100 Index lost 2.3, or 0.1 percent, to
6496.4 at 9:59 a.m. in London. The measure earlier dropped as
much as 0.6 percent. The FTSE All-Share Index slid 5.07, or 0.2
percent, to 3354.87. Ireland's ISEQ Index dropped 92.66 to
8737.01.


Read more at Bloomberg Stocks News

SSAB shares tumble as Q2 disappoints

(Reuters) - SSAB, which expects to complete the Ipsco takeover this week, reported a pretax profit of 1.86 billion crowns versus a forecast 2.31 billion crowns in a Reuters poll and 1.78 billion in the same quarter of 2006.




The steel maker's shares dived on the news, to trade 44.50 crowns lower at 269.50 crowns at 1515 GMT.


Read more at Reuters.com Hot Stocks News

Mexico's Bolsa Falls on U.S. Housing Concern, Led by Cemex: Vale Declines

(Bloomberg) -- Mexican stocks fell for the first day
in four, led by cement maker Cemex SAB, on concern the U.S. housing
slump may have hurt second-quarter earnings for some exporters.

The benchmark Bolsa index declined 161.18, or 0.5 percent, to
32,225.33 as of 3:16 p.m. New York time. Brazil's Bovespa index of
most-traded shares on the Sao Paulo exchange fell 364.85, or 0.6
percent, to 57,279.31.


Read more at Bloomberg Stocks News

UPDATE 1-Ipsco shareholders approve $7.7 bln sale to SSAB

(Reuters) - The deal, which required backing from two-thirds of Ipsco
shareholders, received 99.46 percent approval and clears the
way for SSAB to buy Ipsco's outstanding shares for C$160 each.




The global steel industry has seen a wave of consolidation
as producers bulk up to gain more sway over customers and
suppliers in a booming steel market.


Read more at Reuters.com Mergers News

Mexico Bolsa Gains on Outlook for Tax Legislation, Led by America Movil

(Bloomberg) -- Mexican stocks rose for a second day as
investors speculated a tax bill will be modified to reduce levies
on business and gain support needed for passage.

The benchmark Bolsa index advanced 243.25, or 0.8 percent, to
31,047.46 as of 12:56 a.m. in New York, led by America Movil SAB,
Latin America's biggest mobile-phone company.


Read more at Bloomberg Stocks News

America Movil, Grupo Mexico and Wal-Mart de Mexico: Mexican Equity Mover

(Bloomberg) -- Mexico's main stock index was little
changed as retailer Wal-Mart de Mexico SAB fell and cement-maker
Cemex SAB rose.

The Bolsa index gained 5.84, or less than 0.1 percent, to
31,301.85 at 10:03 a.m. New York time.


Read more at Bloomberg Stocks News

America Movil, Cemex, Grupo Mexico, IXE and Invex: Mexican Equity Movers

(Bloomberg) -- Mexico's main stock index rose for a
fourth day, led by shares of America Movil SAB, Latin America's
largest mobile-phone company.

The Bolsa index gained 132.13, or 0.4 percent, to 32,261.10 at
10:15 a.m. New York time, after setting a record June 15.


Read more at Bloomberg Stocks News

American Movil, Grupo Kuo, Grupo Mexico and Qualitas: Mexico Equity Movers

(Bloomberg) -- Mexico's main stock index rose to a
record for a fourth session, led by mobile-phone company America
Movil SAB.

The Bolsa index gained 143.30, or 0.5 percent, to 30,819.64 at
10:13 a.m. New York time.


Read more at Bloomberg Stocks News

SA beer war brews

Heineken snatches Amstel back from SAB Ltd, knocking 9% of its local beer sales

South African beer giant SAB Ltd has lost a forty-year-old brand and nearly a tenth of its domestic beer volumes overnight, as Heineken moved in to take back its control over Amstel Lager in South Africa. The aggressive move by Heineken, which came as a surprise to SAB Ltd, but which has been rumoured for over a year, marks the possible start to a beer war in the South African market.

Compared with the SAB's entrenched position in South Africa, Heineken is but a minnow. Through Brand House, a joint venture with Diageo, it represents about 2% of the South African beer market through its Heineken and Windhoek brands. But, says Coronation Fund Managers' Dirk Kotzé, with the addition of Amstel, this share is catapulted up to 10%.

Read more at MoneyWeb.co.za