Mexico, Venezuela, Chile: Latin America Local Bond Preview
The following events and economic reports may influence trading in Latin American local-currency bonds today. Bond yields are from the previous session.
The central bank raised its growth forecast for the economy next year to 6.2 percent from 4 percent on Dec. 29. The central bank will rebuild international reserves to a level comparable to the total available before Argentina’s $9.8 billion payment to the International Monetary Fund, bank president Martin Redrado said.
The yield on Argentina’s 5.83 percent bond maturing in December 2033 fell 2 basis points to 6.31 percent on Dec. 29, according to Banco Mariva in Buenos Aires. Argentine markets were closed on Dec. 30 for a holiday. {ARARGE03E121 DES }
Brazil {BLTN }: The trade surplus probably widened to $4.4 billion in November from $4.1 billion the previous month, according to the median estimate from 10 analysts in a Bloomberg survey. The government will report November trade figures today at 7:00 a.m. New York time.
More: bloomberg.com
Mexico, Venezuela, Chile: Latin America Local Bond Preview
The following events and economic reports may influence trading in Latin American local-currency bonds today. Bond yields are from the previous session.
Chile {BCPCL }: Chile's jobless rate fell to a nine-month low of 7.6 percent in November, the government reported yesterday, on increased industrial production and seasonal agricultural employment. Industrial production expanded at a faster-than-expected 6.2 percent.
The yield on Chile's 8 percent bond maturing in June 2014 fell 4 basis points to 6.35 percent, according to JPMorgan Chase Chile. {CL0000000605 DES }
Mexico {MBONO }: Mexico's government releases
Mexico, Argentina, Venezuela: Latin America Local Bond Preview
The following events and economic reports may influence trading in Latin American local-currency bonds today. Bond yields are from the previous session.
Argentina {ARGENT }: Argentina's central bank plans to step up oversight over foreign-exchange trading, seeking to block bond trades that are used to make illegal foreign- currency transfers, the bank said in an e-mailed statement yesterday. The bank said it had detected alleged violations of exchange control regulations through simultaneous purchases and sales of bonds in Argentina and abroad. Analysts such as Rafael Ber at Argentine Research say the
Brazil, Chile, Mexico, Peru: Latin America Local Bond Preview
The following events and economic reports may influence trading in Latin American local-currency bonds today. Bond yields are from the previous session.
Argentina {ARGENT }: Argentina's currency weakened 0.2 percent, its fifth straight decline, to 3.06 pesos per U.S. dollar as Argentines traveling abroad during the summer months buy foreign currency.
The yield on Argentina's 5.83 percent bond maturing in 2033 remained unchanged at 6.19 percent, according to Banco Mariva in Buenos Aires. {ARARGE03E121 DES }.
Brazil {BLTN }: Brazil's real rose for a second day on speculation companies
Mexico, Brazil, Argentina: Latin America Local Bond Preview
The following events and economic reports may influence trading in Latin American local-currency bonds today. Bond yields are from the previous session.
Argentina {ARGENT }: Argentina's tax collection rose 41 percent to 11.3 billion pesos in December, led by a surge in income tax revenue, Economy Minister Felisa Miceli said yesterday. Tax revenue rose more than 20 percent to 119.2 billion pesos in all of 2005, she said.
The yield on Argentina's 5.83 percent bond maturing in 2033 was unchanged at 6.28 percent, according to Banco Mariva in Buenos Aires. {ARARGE03E121
Mexicos Calderon to tour Latam, skipping Venezuela
Mexican President-elect Felipe Calderon, who wants to counter the influence of Latin American leaders like U.S.-foe Venezuelan President Hugo Chavez, sets off on a tour of the region next week.
Conservative Calderon, 44, will take in Guatemala, Costa Rica, Colombia, Chile and Brazil on the trip, but will not visit Venezuela and other countries like Bolivia whose leftist leaders are aligned with Chavez.
Calderon has said he wants Mexico to play a more active role in regional politics to balance the influence of Chavez, who is trying to reduce U.S power over Latin American affairs.
More :
Grupo Mexico, America Movil, Braskem: Latin Equity Preview
The following stocks may make significant gains or losses in Latin America today. Symbols are in parentheses after the company name and stock prices are from the last session.
Commodity prices yesterday had their biggest drop in seven months after a drop in oil prices eased the threat of inflation. Copper for March delivery dropped 5.2 cents, or 2.2 percent, to $2.278 a pound on the Comex division of the New York Mercantile Exchange, the biggest decline since Dec. 14. Prices earlier reached a record $2.339. The shares of the world's fourth-largest
Mexico Telmex, Spains Telefonica squabble in Chile
Mexican telecommunications giant Telmex on Monday accused its Spanish-owned rival, Telefonica Chile (CTCa.SN: Quote, Profile, Research), of erecting legal roadblocks to a wireless concession it won in Chile last year.
Telmex (TMX.N: Quote, Profile, Research) (TELMEXL.MX: Quote, Profile, Research) and Telefonica are battling for control of Latin Americas booming telecommunications market and Telmex won a concession to operate wireless local loop services (WLL) in Chile in December last year.
Telmex, owned by the Mexican magnate Carlos Slim, won a national license to operate the technology while VTR, a unit of Liberty Media (L.N: Quote, Profile, Research),
Televisa, Grupo Mexico, Petrobras: Latin America Equity Preview
The following stocks may make significant gains or losses in Latin America today. Symbols are in parentheses after the company name and stock prices are from the last session.
Grupo Televisa SA (TLEVICPO MM): The world's largest producer of Spanish-language television programming said yesterday it hasn't made an agreement with a third party to buy Univision Communications Inc., contrary to media reports. The shares rose 96 centavos, or 2.3 percent, to 42.27 pesos.
Grupo Mexico SA (GMEXICOB MM): Copper rose for a third consecutive session in London yesterday after global inventories of
Mexico's Slim not worried about Venezuela risk - spokesman
Mexican telecommunications magnate Carlos Slim isnt worried about political risks in moving his Latin American communications network into Venezuela, a spokesman said Friday.
Monday, Telmex (TMX) and America Movil (AMX) said they will buy Verizon Communications (VZ) 28.5% stake in Venezuelas CA Nacional Telefonos de Venezuela SA (VNT), or CANTV, for $676.6 million through a joint-venture.
Arturo Elias Ayub, a spokesman for Slim, shrugged off concerns about political risk in Venezuela, where the government of President Hugo Chavez has been changing the rules for oil and other companies.
Were confident in the
Canada Fifth As Venezuela, Colombia And Mexico Earn World Cup Berths
In the end, the ground was too much for Canada to make up at the Nations Cup.
Stuart Anderson and Craig Taylor did what they could, but a final round 4-under 67 was not enough to assure Canada one of three spots in next month’s World Golf Championships World Cup.
With a 72-hole total of 15-under 269, Canada finished in fifth spot, three shots back of Chile and Mexico, who finished in a tie for third.
Canada started the final round four-shots out of third spot.
Venezuela and Colombia both fired a final-round
