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Wed, Sep. 10, 6:20 AM
- Shares of Banco Santander (SAN, BSBR, BSAC, OTCQB:BCDRF) -1.2% premarket following news that 79-year-old chairman Emilio Botin died of a heart attack on Tuesday night. (press release)
- Under his tenure, Santander grew through aggressive acquistions, and through the introduction of novel banking services. Today, SAN is the largest bank in the eurozone by value.
- But analysts still question the lender's capital position, with much of its strength in its many subsidiaries.
- His death raises the question of succession. Botin's share in the bank isn't large enough to guarantee his daughter Ana's control. (BBC)
Tue, Jul. 1, 9:54 AM
Tue, Jun. 10, 5:55 PM
Fri, Jun. 6, 3:59 PM
- Petrobras (PBR +7.6%) leads Brazilian stocks higher as support for Pres. Rousseff continues to shrink according to a new opinion poll.
- Brazil's real rose for a third straight day in the longest stretch of increases in almost a month, as speculation grows that Rousseff will face a runoff after the October election.
- Other big Brazilian gainers: EDN +7.6%, EBR +6.6%, BBD +4.9%, ITUB +4.2%, CIG +3.6%, VALE +2.7%, BSBR +2%, ELP +1.4%.
Fri, Jun. 6, 10:53 AM
- The Bovespa has its tail in the air to the tune of 2.6% after another dip in support for President Dilma Rousseff to 34% from 37%.
- Opposition candidates, however, also saw their support drop, bringing the number of voters without a preferred candidate to its highest pre-election percentage in 25 years. Still, the opposition combined is now polling higher than the president
- EWZ +3.4%, and the banks: ITUB +4.4%, BSBR +1.9%, BBD +4.5%
- ETFs: EWZ, BRXX, BRAQ, BRZU, BZQ, BRAF, UBR, BRZS, DBBR, FBZ
Tue, Apr. 29, 12:46 PM
Tue, Apr. 29, 9:12 AM
Tue, Apr. 29, 4:13 AM
- Banco Santander's (SAN) Q1 net profit rose to €1.3B ($1.8B) from €1.2B a year earlier and exceeded forecasts that were also €1.2B, boosted by an improving economy and falling charges for bad loans.
- Net interest income slipped 3% to €6.99B from €7.21B.
- Provisions for bad loans fell 14.2% to €2.69B as the non-performing loan ratio dropped to 5.52% from 5.64%.
- Profit breakdown: Spain +24% to €251M; U.K. +63% to €376M; Latin America -26.6%, hurt by currency fluctuations.
- Separately, Santander intends to acquire the 25% of Banco Santander Brasil (BSBR) that it doesn't own for €4.69B in shares, with the price representing a 20% premium.
- Shares are +0.7% in Madrid. (PR)
Fri, Apr. 4, 12:50 PM
- With the Nasdaq and Russell 2000 each off 2% and the S&P 500 down 0.6%, what's working today? Emerging markets (EEM +0.7%), particularly Latin America (ILF +2.2%), particularly Brazil, where the weight of a year-long rate hike cycle looks to be coming to a close just as monetary tightening gets underway in the States.
- Up 2.6% today, the iShares MSCI Brazil Index (EWZ) is ahead more than 20% since the start of February.
- Brazil's banks: Banco Bradesco (BBD +2.8%), Banco Santander Brasil (BSBR +2.9%), Itau Unibanco (ITUB +2%).
- Brazil ETFs: EWZ, BRF, BRXX, EWZS, BRAQ, BRAZ, BZQ, BRZU, BRAF, UBR, BRZS, DBBR, FBZ
- LatAm ETFs: AND, ILF, LBJ, GML, LATM, EEML, FLN
Fri, Jan. 10, 9:13 AM| 8 Comments
Jun. 14, 2013, 5:30 PM
Apr. 27, 2012, 3:24 PMBrazil's Bovespa continues to drop, -0.8% today as VALE, already stung by diving earnings, has its $5.9B potash project in Argentina threatened by Kirchner's shenanigans. Brazil's banks are also booking losses as the country enters the "not fun" part of a consumer credit boom. On the plus side, the central bank is aggressively cutting rates. The divergence between Brazil and the S&P. | 2 Comments
Jan. 17, 2012, 9:25 AMPremarket gainers: VQ +50%. CNVO +48%. DNN +17%. PVX +15%. TSLA +15%. ISTA +11%. EK +10%. ING +8%. AEG +8%. FRO +8%. AVL +7%. QCOR +7%. BRD +6%. NBG +6%. RBS +6%. NOK +6%. TTM +5%. JASO +5%. MTL +4%. BHP +4%. SINA +4%. RIO +4%. ASML +4%. HMA +4%. WFR +4%. GMCR +3%. TSL +3%. HL +3%. AVNR +3%. HMY +3%. NDCO +3%. CLWR +3%. BIDU +3%. TOT +3%. BSBR +3%. BUD +3%. FCX +3%. CS +3%.
Losers: CUK -16%. CCL -15%. KGC -8%. RCL -7%. C -5%. MTG -5%. | Comment!
Dec. 30, 2011, 7:42 AMBrazil's surging economy of the past few years owes a least a bit to its citizen's appetite for debt (and bank willingness to issue it), making bill collecting the latest boom industry there. The volume of credit has doubled to 50% of GDP in less than a decade, with 5.6% of the $1.1T total more than 90 days past due. Some Brazilian banks YTD: BBD -19%, BSBR -41%, ITUB -24%. | 1 Comment
Dec. 23, 2011, 8:31 AMBrazil dips its toe into the QE business, de facto requiring large lenders use part of their reserves deposited with the central bank to purchase loan portfolios from smaller institutions. If the big banks don't participate, they won't receive interest on a portion of their deposits with the central bank, no small inducement when the rate is 11%. | Comment!
Nov. 30, 2011, 9:05 AMPremarket gainers: AMR +46%. MT +11%. FRO +10%. BCS +10%. IRE +9%. DB +9%. GBG +9%. CX +9%. STP +9%. RBS +8%. ING +8%. PCX +8%. BSBR +8%. LYG +8%. RCL +8%. RIO +8%. CS +8%. RDN +8%. MS +8%. X +7%. BHP +7%. FCX +7%. BBD +7%. BBVA +7%. MTL +7%. BP +7%. PHM +7%. GGB +7%. JPM +7%. AEG +7%. C +7%. TS +7%. UBS +7%. AKS +7%. ANR +6%. DANG +6%.
Losers are mainly just leveraged short ETFs: EDZ -15%. TCIX -14%. SRTY -13%. TZA -13%. FAZ -11%. OVTI -11%. ERY -10%. BGZ -10%. EEV -10%. SPXU -9%. SQQQ -9%. TWM -8%. SKF -7%. VXX -7%. SDS -6%. QID -6%. DXD -5%. DTO -5%. RWM -4%. ZSL -4%. SCO -4%. DZZ -4%. BBEP -3%. SH -3%. PSQ -3%. EUO -3%. | Comment!
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