Skip to main content

Santander Chile Rises on Recommendation, Citigroup (Update1)

By James Attwood and Nathan Gill
     Nov. 24 (Bloomberg) -- Banco Santander Chile rose the most in five weeks in Santiago after JPMorgan Chase & Co. recommended owning Chilean banking stocks and the U.S. rescue of Citigroup Inc. eased investor concerns about the global financial system.
     The country’s biggest lender rose 8.8 percent to 20.7 pesos, the steepest advance since Oct. 14.
     Santander Chile rallied along with other Latin American financial stocks after the U.S. government said it will guarantee $306 billion of troubled Citigroup assets and inject $20 billion into the bank. JPMorgan is “overweight” Latin American financials including Chilean banks, strategists wrote in a note to clients today.
     Santander Chile “is well capitalized and has the safest debt in Chile,” Javier Pizarro, an analyst at Larrain Vial SA, said today by phone from Santiago. “It’s the bank we recommend most in the short term.”
     Six out of eight analysts in a Bloomberg survey have “buy” ratings on the Santiago-based lender.

Comments

Popular posts from this blog

Moving to the Suburbs: Reducciones in Recent Latin American Historiography

In 1503, the Spanish monarchy issued its first decree for the resettlement of indigenous groups in the Caribbean so that they would “live together” and “not remain or wander separated from each other in the backcountry.”[1]

As the European conquest spread to North, Central, and South America, these new settlements – known as reducciones and congregaciones in Spanish and descimentos in Portuguese – became sites of forced labor, evangelism, experimental agricultural, and refuge. Through a series of imperial policies decreed over the next decades and centuries of colonial rule, Spanish and Portuguese officials attempted to reshape the New World, including its human and natural landscapes. How colonial historians explain this process and indigenous peoples’ reactions to it is the focus of this essay.

In a review of the recent historiography of reducciones, several trends emerge that signal a shift in our understanding of the practice. As this paper will show, one common element is that …

77-Year-Old Wall Street Favorite to Face Fujimori in Peru Runoff

By Nathan Gill and John Quigley April 12, 2016 (Bloomberg) -- The victory by Pedro Pablo Kuczynski, a former finance minister, for second place in Sunday’s Peruvian president elections sets up a showdown between two business-friendly candidates, part of a regional backlash against left-wing politicians.
Kuczynski, a 77-year-old Oxford-trained political economist who’s spent more than 50 years championing debt control and free trade, won 21 percent of vote with 96 percent of the ballots counted, according to the electoral office. He will face Keiko Fujimori, who won 39.8 percent, in a second-round vote on June 5.
Click here to read the full story on Bloomberg News.

Greetings From Gringolandia

Bloomberg Businessweek, March 28 — April 3, 2016
Susan Lamy and her husband, Jean Pierre, owned a successful interior design business in Westport, Conn., but they still worried about how they would make ends meet in retirement. “Just paying for the basic necessities was killing us, and we could see that there was no way that we would ever be able to stop working,” says Lamy. 
The search for an affordable retirement spot led the couple to Cuenca, a Unesco World Heritage site in Ecuador’s southern Andes. They settled there in 2013 and now live in a spacious apartment with a terrace overlooking the Yanuncay River. Lamy says she and her husband enjoy a high standard of living in Cuenca for around $2,500 a month, paid for by their Social Security checks: “This seemed to be the best possibility for having a really terrific life on a fixed income.” 
The combination of a subtropical climate, well-preserved colonial architecture, and low cost of living has made Cuenca a magnet for North Ameri…