BRIEF-Andritz gets order from steel producer Nucor
* Has received an order from steel producer Nucor to supply turn-key production lines for its new specialty cold rolling mill complex at company's sheet steel mill in Hickman, Arkansas, USA
* Brazil Bovespa down 0.46 pct, Mexico IPC falls 0.16 pct SAO PAULO, Jan 21 Brazilian stocks gave up early gains on Tuesday, led by shares of steelmaker CSN, on concerns the company could be forced to disburse up to $3 billion to buy out partners in its Namisa iron ore unit. Mexico's IPC index fell for the third session in four, while Chile's bourse edged lower. After initial gains of as much as 0.8 percent, Brazil's benchmark Bovespa stock index was down 0.46 percent by mid-afternoon, hitting its lowest level in over five months. Shares of CSN, or Companhia Siderurgica Nacional SA , plunged over 7 percent, their biggest one-day drop since Sept. 2012, pushing the index into negative territory. Local newswire Agencia Estado, citing unidentified sources with knowledge of the situation, reported that an agreement between CSN and a group of Asian trading companies and steel mills over Namisa's ownership was taking longer than expected. Investors are worried that CSN, which has been struggling with weak trends in its steel and iron ore units and rising debt, would have to compensate partners for problems with Namisa. Itochu Corp and other partners could exercise an option to sell their stake to CSN worth as much as $3 billion. CSN did not respond immediately to a request for comments. Itaú Unibanco Holding SA, Brazil's largest non-government bank, rose 1.7 percent, helping support the index, while rival Banco Bradesco SA advanced 1.3 percent. Consumer delinquencies in Brazil fell in 2013 for the first time in 14 years, research firm Serasa Experian said on Tuesday. The numbers could at first glance spell a brighter outlook for private-sector lenders, which have seen quarterly profit recover recently thanks to prudent credit disbursement policies. Shares of state-run oil company Petroleo Brasileiro SA , known as Petrobras, advanced for the first session in four, rising 0.6 percent. "Petrobras is bouncing back with strength after recent losses, but the stock is still dealing with the impact of recommendations from JP Morgan and Goldman Sachs that investors sell off emerging market assets," said Pablo Spyer, a director with Mirae Securities in Sao Paulo. Petrobras shares, which due to their high liquidity tend to attract foreign investors looking for exposure to Brazil's market, are down 15 percent over the past three months. Part of that flight is due to the perception that developed markets offer better investment prospects as Brazil deals with higher interest rates, government meddling in the private sector and lower expectations for economic growth. Spyer, along with a number of local banks and brokers including BB Investimentos and Grupo BTG Pactual, have remained bullish on the local market, however. "I think the pullback in Brazil stocks is basically over," he said. "Brazil is at a good price. Yes, the government creates some difficulties here, there have been a lot of interventions, but it's all priced in now." Mexico's IPC index nearly erased the previous session's gains, losing 0.16 percent to 41,907.68. Mining firm Grupo Mexico lost 1.8 percent, contributing most to the index's losses, while cement manufacturer Cemex advanced 1.5 percent. Chile's IPSA index gave up slight morning gains, returning to negative territory for a second straight session. Retailer Falabella slipped 0.7 percent, while Banco de Chile advanced 0.78 percent. Latin America's key stock indexes at 1811 GMT: Stock indexes Latest daily % YTD % change change MSCI LatAm 3,021.96 -1.06 -4.58 Brazil Bovespa 48,484.16 -0.46 -5.87 Mexico IPC 41,907.68 -0.16 -1.92 Chile IPSA 3,679.85 -0.19 -0.52 Chile IGPA 18,177.65 -0.03 -0.27 Argentina MerVal 5,800.99 -2 7.60 Colombia IGBC 12,551.36 0.06 -3.98 Peru IGRA 16,568.58 0.2 5.17 Venezuela IBC 2,808.85 0.65 -99.90
LAGOS/LONDON, March 27 Earlier this year, an open letter in the Nigerian media from a group of businessmen attacked the "shameful" record of central bank governor Godwin Emefiele and demanded that he should go.