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September 1, 2010 • 11:35 pm 0

Brazil: US economy still in the spotlight – September 2010- IXE BANIF – Monthly Analysis

Little hope for a short-term change in the economy

For September, we foresee that attention will continue focused on the US economy, which has been showing signs of weakness since the beginning of 2H10. This expectation is the same we had for August, which proved to be correct. The main event we highlight for September is the FOMC meeting on the 21st, which might raise market expectations of new measures to improve economic growth. The latest statement on the economy from the President of the Central Bank mentioned that the Bank is ready, if necessary, to intervene to adjust the economic trend. However, its portfolio of potential measures is, in our view, limited due to the current low level of interest rates. Meanwhile, data released on housing, payroll and investment are likely to drive the market in the ST.

Concerning the rest of the world, we believe that Europe will continue out of the spotlight, with Germany leading the local economy well. We believe that the only negative in the month could come from China, which has been releasing some mixed and inconclusive data lately.

In September, with little change in the scenario and no major event in sight, we expect the market to move sideways and with less volatility. Therefore, we decided to maintain our defensive view and keep the core of our previous portfolio. We have added Tietê, MRV and EZ Tec, increased the weight of Petrobras (from 15 to 20%) and reduced the weight of Eletropaulo (from 10 to 5%). We have withdrawn B2W (weak 2Q results without good ST expectations), CSN (due to its deteriorated ST outlook) and Tegma (stellar performance in the month).

Petrobras is the month’s highlight

Last month, we predicted that the start of the political TV campaign in August, at presidential level, would be exciting and move the markets. The reality proved to be very dull, with the Labor Party’s candidate having the unquestionable advantage and no response at all from any of the main financial markets: equity, interest rate and FX. In September, we believe that Petrobras’ capital increase operation will be the highlight. The weak performance of the company’s shares in the past 1.5 years contributed to holding down the Ibovespa. We believe that, after the capital increase, they can have the opposite effect.

When it comes to economic data, we believe the two most important events of the month will take place in the first week. These are the Copom meeting on the 1st and the 2Q GDP report on the 3rd. We expect an unchanged Selic rate of 10.75% for the former and a 1% change for the later (QoQ seasonally adjusted, or around 8% YoY).

Read full analysis Brazil – Monthly Allocation – September 2010

Source: IXE-BANIF, 01.09.2010

Filed under: BM&FBOVESPA, Brazil, Latin America, News , , , , , , , , , , ,

August 31, 2010 • 11:51 pm 0

BMV Mexican Stock Exchange Rebalancing of IPC and adustment of MSCI Country Index

The BMV Mexican Stock Exchange – IPC index will be rebalancing go into effect as of today’s ( Tuesday 31.08.2010) close.

The IPC names that will be added to the index are: ICHB, CHDRAUIB, LABB and ARCA. The names that will leave the index are: GFAMSA,AUTLAN and ASUR.

MSCI country Index will also rebalance and go into effect as of today’s ( Tuesday 31.08.2010) close.

Mexico is expected to be the market with the largest recipient of inflows. Among the names that will have the largest positive impact are: AMX and WALMEX, while ALFA is expected to have the largest negative impact (albeit marginal).

Source: IXE 31.08.2010

Filed under: BM&FBOVESPA, Exchanges, Latin America, Mexico, News , , , , , , , , ,

August 27, 2010 • 11:30 pm 0

Mexico: safer than Canada ? safer than Brazil!

K, so the headline is a bit of a fib. But a report on Mexico’s security situation has painted a more detailed picture than the one we hear about in the news most of the time. When I told friends I was moving to Mexico City, some asked if I would be provided with a bodyguard (no). Business travellers are thinking twice about coming, according to chambers of commerce here. But a detailed breakdown of violence released this week shows that, if you pick your state, you’re as safe—or safer—than in any other North American country.

Mexico’s overall homicide rate is 14 per 100,000 inhabitants: fearsomely high (and possibly an underestimate, given the drugs cartels’ habit of hiding bodies in old mines), but quite a lot lower than its great Latin rival Brazil, whose rate is more like 25. As the chart below shows, Mexico’s death rate is bumped up by extraordinarily high levels of violence in four states: Chihuahua (home of Ciudad Juárez, widely labelled the world’s most murderous city), Durango, Sinaloa and Guerrero (see p.29 of this document). Of the rest, some are blissfully serene: Yucatán, where tourists flock to swim with whale sharks and clamber over Chichen Itzá, has a murder rate of 1.7—slightly lower than Canada’s average of 2.1.

Read full article in the Economist

Before I am buried an avalanche of polite Canadian emails, I should acknowledge that comparing an entire country with one quiet state is hardly fair: there are no doubt parts of Canada where no-one has been so much as kicked in the shin for decades. But Mexico’s predicament is worth highlighting, because the extreme violence around its border with the United States colours people’s view of the rest of the country, though much of it is pretty quiet. A third of Mexico’s states hover around 5 murders per 100,000, about the same rate as the United States. Another third are around 8 per 100,000, similar to Thailand, for instance. A handful of states have rates in the teens—like Russia, say—and a couple are in the low twenties, a little lower than Brazil’s average. Then you have the chaos of the four very violent states, which sends the average soaring.

The carnage in Mexico’s badlands is not to be underestimated, and nor does it seem to be getting any better. Business travellers should certainly watch out in places such as Juárez and, these days, even in cities such as Monterrey. But people doing business south of the Rio Grande should remember that, even on average, Mexico is a less murderous country than places such as Brazil, and that once you avoid the hotspots, it’s downright safe.

Source: The Economist, 27.08.2010

Filed under: Brazil, Latin America, Mexico, News, Thailand , , , , , , , , ,

August 22, 2010 • 12:31 am 0

Brazil Macro August 2010

According to the IPCA-15 index, inflation was -0.05%. The inflation deceleration process, which was initially characterized by a positive shock of food prices and the seasonal favorable behavior of clothing prices, has gradually become broader and longer than originally thought. The inflation outlook points to IPCA reacceleration down the road, but low current inflation is postponing this scenario. In all, the Selic rate is likely to be maintained stable in the next COPOM meeting.

According to the IPCA-15 index, inflation was -0.05% in the 30 days ended in August,13th. Since the end of June, retail inflation, measured by the IPCA and the IPCA-15 indexes, has remained at a very low level, close to zero, and chances are that this will not change in the short term.

The diffusion index rose slightly to 52.9, from  48.7 in the end of July, showing that a larger percentage of items from the inflation basket has faced price increase. However, diffusion´s moving average is declining (see chart on the right), suggesting that inflation is likely to keep decelerating. Also, there is indeed a growing number of groups of goods or services posting deflation or declining inflation. For instance, according to August´s IPCA-15, food at home, furniture, home appliance, electronics, clothing, footwear, textiles, pharmaceuticals and communications posted deflation. Eating out of home, fuel and energy for housing, health services, personal care and recreation are posting significant lowering inflation.

In sum, the inflation deceleration process, which was initially characterized by a positive shock of food prices and the seasonal favorable behavior of clothing prices, has gradually become broader and longer than originally thought. As a result, 12-month core IPCA and services inflation have begun to drop, which is surprising because the level of capacity utilization is close to a record high, unemployment is at a record low, the aggregate wage bill is rising and there are signs of supply shortage in some sectors.

The inflation outlook points to IPCA reacceleration down the road, because of the underlying economic conditions, the fact that wholesale prices have increased, and the high probability that wage negotiations, scheduled for the following months, will lead to real wage increases above productivity gains. Nevertheless, low current inflation is postponing the IPCA reacceleration scenario and, to be fair, weakening it too, as it helps align inflation expectations with the inflation target. In all, August´s IPCA is likely to be around 0.1% and the monetary policy committee – Copom – seems poised to maintain the Selic rate stable in the next meeting, scheduled for September,1st.

Source: Banif – IXE, 20.08.2010 Mauro Schneider  – mschneider@banifib.com.br

Filed under: Brazil, Latin America, News , , , , , , , , , ,

August 21, 2010 • 11:56 pm 0

Brazil: BM&FBOVESPA Monthly News August 2010

BVMF NEWS – August 2010 Complete and Detailed Version

  • CVM authorizes BM&FBOVESPA to implement new DMA modalities in the Bovespa segment
  • New Fee Policy for High-Frequency Traders (HFT)
  • BM&FBOVESPA presents new financial education campaign
  • Itaú Unibanco S.A. is selected to manage the Financial ETF
  • Reduction in the round lot for ETFs to facilitate the access of individual investors
  • Deadline extended for approval of amendments to the listing rules for the special listing segments
  • On August 13th BM&FBOVESPA announced its 2010 second quarter earnings
  • MARKET RESULTS – BM&F Segment July 2010
  • MARKET RESULTS – BOVESPA Segment July 2010

Filed under: BM&FBOVESPA, Brazil, Exchanges, Latin America , , , , , , , , , , , , , , , ,

August 20, 2010 • 7:41 am 0

Latin America Commercial Real Estate and Lending – Webinar – August 26th

Taking into consideration the trials and tribulations regarding real estate over the past two years, Alternative Latin Investor thought it prudent to hold a round-table discussion of Latin America’s fairly insulated Commercial Real Estate market along with the complementary lending market.

In order to best explore these topics we have invited some of the top experts in the field: For full details regarding topics and speakers, please see: http://www.alternativelatininvestor.com/Webinar/CommercialRealEstate.pdf

Brazil  

Maximo Pinheiro Lima Netto – Managing Director at Prosperitas – the market leader in managing real estate private equity and debt funds. Prosperitas is currently responsible for 4 domestic real estate opportunity funds, with a current real estate operation of about 1.14 billion USD of assets under management.

Flavio Mantesso – Portfolio Management Director at Eccelera – an investment fund manager focused in the office real estate sector in Brazil and partner of one of Europe’s major investment houses. Flavio has also created a proprietary forecast model, which utilizes statistical regressions, monte-carlo simulations and other tools to better predict real estate market movements and investment returns.

Mexico

Michael K. Krause – Investment Director at Hines – a privately owned, international real estate firm with offices in over 17 countries and controls assets valued at approximately $22.9 billion.

Lawrence McDaniel – Chief Investment Officer at Axia Capital – a boutique investment and advisory firm headquartered in Mexico City specializing in Mexican affordable housing, leasing, and alternative consumer credit. Axia Capital is a principal investor in the Mexican private debt market, with emphasis on mortgages, leases and alternative consumer credit.

Peru

 Eric Rey De Castro -Managing Director at Colliers – a leading global real estate services organization with more than 480 offices worldwide.

Date: Thursday, August 26th, 1pm EST
Duration: 90min
Price: 89.00USD
Register at http://www.regonline.com/register/checkin.aspx?EventId=887913
Contact: Nate Suppaiah at nate@caprg.com or 202-905-0378

Filed under: Brazil, Events, Latin America, Mexico, Peru, Services, Wealth Management , , , , , , , , , , , , ,

August 13, 2010 • 7:43 am 0

Tongling, CRCC to invest $3b in Ecuador copper mine

Tongling Nonferrous Metals Group Holdings Co and China Railway Construction Corp may invest as much as $3 billion in a copper project in Ecuador, as China seeks to control more commodity assets to feed its economy.   

Production at the Corriente Copper Belt may start in 2013, Hu Guobin, vice-president of a venture set up by the two Chinese companies for the project, said in an interview. Annual copper in concentrate output would start at 30,000 tons and double a year later, he said.

Chinese companies spent more than $30 billion last year buying oilfields and mines as two decades of economic growth averaging 10.1 percent made China the world’s biggest metal and energy consumer. Copper prices have doubled in the past five years, driven by demand in the third-largest economy. “The investment will significantly lift Tongling’s copper ore self-sufficiency and investors expect the assets to be injected into the listed unit later,” Heng Kun, an analyst at Essence Securities, said by phone.Tongling Nonferrous Metals Group Co rose 2.4 percent to close at 16.20 yuan at the 3 pm close in Shenzhen. China Railway rose 0.4 percent to HK$10.08 ($1.3) at the 4 pm close in Hong Kong. Tongling, China’s second-biggest copper producer, and China Railway Construction, the nation’s biggest railroad builder, in December agreed to buy Canada’s Corriente Resources Inc for C$679 million ($652 million) for the copper resources. The deal was completed and Corriente was delisted this month, according to a statement on Corriente’s website.

Chinese Demand

“All the ore will be shipped back to China” to meet demand, said Hu, who was nominated to the venture from Anhui- based Tongling. The copper producer will take delivery of half the ore, he said. Production in the long-term may reach 250,000 tons to 300,000 tons a year, Hu said. Tongling produced 44,000 tons of copper concentrate last year.

The rapid expansion of smelting capacity in China, the world’s biggest producer and consumer of copper metal, has increased ore demand and spurred companies to invest overseas. Larger rival Jiangxi Copper Co invested in copper mines in Peru and Afghanistan, and Zijin Mining Group Co is seeking copper and cobalt assets in the Republic of Congo.

The Corriente Copper Belt covers 17 deposits in the four main mining regions of Mirador, Mirador Norte, Panantza and San Carlos, China Railway said in December. Copper resources are about 11.54 million tons, based on initial studies, it said. Corriente was also involved in the exploration and development of gold, silver and molybdenum mines, according to the December statement.

Source: CITIC New Edge, 12.08.2010 Mr. Liang Haisan

Filed under: China, Energy & Environment, Latin America, News , , , , , , , ,

August 10, 2010 • 1:03 am 0

BlackRock Bob Dolls: 10 prediction for the next 10 years

“10 Predictions for the Next 10 Years” by BlackRock’s Bob Doll and what it means to investors:

  1. U.S. equities experience high single-digit percentage total returns after the worst decade since the 1930s.
  2. Recessions occur more frequently during this decade than only once a decade as occurred in the last 20 years.
  3. Healthcare, information technology and energy alternatives are leading growth areas for the U.S.
  4. The U.S. dollar continues to be less dominant as the decade progresses.
  5. Interest rates move irregularly higher in the developing world.
  6. Country self-interest leads to more trade and political conflicts.
  7. An aging and declining population gives Europe some of Japan’s problems.
  8. World growth is led by emerging market consumers.
  9. Emerging markets weighting in global indices rises significantly.
  10. China’s economic and political ascent continues.

Read Bob Doll’s full report  10 Predictions for the next Decade

Source:BlackRock / Carral Sierra, 02.08.2010

Filed under: Banking, Brazil, China, Energy & Environment, Japan, Korea, Mexico, News, Risk Management, Wealth Management , , , , , , , , , , , , , , , , , , , , ,

• 12:47 am 1

Mexico’s GBM Champions FIX Flyer’s Software for Electronic Trading

FIX Flyer, a leader in solutions for electronic trading, announced today that Grupo Bursatil Mexicano, one of the leading brokers in Mexico, uses both the Flyer Engine and Daytona Monitoring for their FIX messaging.

GBM uses Flyer’s tools for their client order flow as well as routing to exchanges in Mexico, Brazil and North America. GBM uses Daytona and the Flyer Engine to monitor and support FIX sessions with all of their counterparties in real-time. In addition, the combined solution lets GBM’s traders respond to their clients needs with dynamic trade busting, routing latency metrics, and real-time order chain management. By providing even higher levels of support for their customers, GBM is in a strong position to attract clients beyond Mexico.

FIX Flyer is also working closely with GBM to integrate with the Bolsa Mexicana de Valores’ new FIX offering. The Bolsa, the largest equities exchange in Mexico, will soon support orders from FIX connections and GBM’s relationship with Flyer has allowed them to respond quickly to this exiting new opportunity in the Mexican market.

“We have embraced the vision of electronic trading in order to provide the very best execution for our increasingly sophisticated clients,” said Enrique Rojas, Director of International Business Development at GBM in Mexico City. “We adopted FIX Flyer’s solution two years ago, and because of their solid reliability and superb performance we have been able to aggressively expand our algorithmic and low-latency trading programs for the direct benefit of our institutional clients around the globe.”

GBM chose FIX Flyer for the core FIX components since the solution is easy to support, scalable, and high-performance. In addition, GBM needed to ensure that the solution would give all of their client’s comfort that they can handle the potential of a dynamic and quickly emerging marketplace. Because of Flyer’s unmatched proficiency and experience as an overall FIX solution, GBM realized early in their evaluation process that Flyer extended their support and tools beyond the other conventional solutions. FIX Flyer works in some of the most demanding trading environments in the world, and that experience makes the product valuable to customers like GBM.

Source: A-TEAM 10.08.2010

Filed under: BMV - Mexico, FIX Connectivity, Latin America, Mexico, Trading Technology , , , , , , , , , , , , ,

August 6, 2010 • 11:04 pm 0

Kroll LATAM Risk Report August 2010: Money Laundring, Mobile Banking, Mexican Security, Brazilian Litigations

MONEY LAUNDERING  Banks on High Alert

Throughout much of Latin America and the Caribbean, banks and other financial institutions are getting tougher on money laundering. For the bad guys, the game of cat-and-mouse continues, as they jump from one country to another, looking for the weakest link in the chain. GO TO FULL STORY

BANKING & TELECOM  Mexico The Regulator as Hero

Mexico’s unheralded decision to design rules for mobile banking is a major milestone on the road to including millions of unbanked and underserved Latin Americans in the financial system and the formal economy. GO TO FULL STORY

Mexico Corporate Security

An annual survey conducted by Kroll and the American Chamber reveals a higher sense of insecurity among business executives at multinational and Mexican corporations. The safety of employees and executives remains the top concern for corporate heads of security. GO TO FULL STORY

CORPORATE LAW Challenging Sham Litigation  in Brazil

A Brazilian regulatory agency takes on Germany’s Siemens for alleged anti-competitive practices in a case that is likely to set an important precedent for regulators and the courts in protecting free market competition.  GO TO FULL STORY

Source: KROLL, 06.08.2010

Filed under: Brazil, Central America, Chile, Colombia, Latin America, Mexico, News, Peru, Risk Management, Venezuela , , , , , , , , , , , , , , ,

August 3, 2010 • 10:27 pm 0

Mexico to Follow US Expectations – August 2010- IXE BANIF – Monthly Analysis

Indications of a slowdown in US growth

Expectations of pick-up in the US economy for 2010 have cooled down recently. The most recent statements of the FED’s President suggested that a recovery in the US will happen only in the medium or long-term. This is a worsening of an already declining expectation for the US economy that started in June, and that we did not incorporate into our scenario at the time.

Until June, nearly everyone’s attention was concentrated on the Euro zone, with fears for the bankruptcy of local banks. These fears faded as the results of a stress test made with a sample of banks showed that very few names were in trouble. The spotlight then turned to the stronger indications of a weakness in the US economy.

Mexico – Monthly Allocation – August 2010

Mexico likely to adapt to new scenario

The Mexican economy continues to depend on its neighbor for exports, as it accounts for most of the demand for its products. With the growing expectation of a reduction in US growth, we believe that the local Mexican economy will tend to migrate from a manufacturing profile (based on exports) to a consumption profile (based on local demand).

While we believe that slower growth of the US economy is not good, we believe that the pace reduction observed so far is still consistent with our current and unchanged expectation for Mexican 2010 GDP growth of 4.4%. We believe that we were in the lower end of the market range, and now believe that others will adjust their expectations downward. In this way, we should move closer to the upper limit of the range of expectations. One indicator on the local economy that we highlight is internal wholesales, which we believe reached its peak at 7% in June (YoY growth, 6.9% in May) and is likely to slow down during the rest of the year. We expect internal wholesales to reach 3.9% for the entire 2010, taking into consideration the negative figures of the first two months of the year. Internal retail sales are now following the wholesales’ trend as an indication that retail companies are reducing inventories. We also expect July figures, when announced, to indicate a reversion of the local deflation observed in the April-June period.

For August, we have added Geo and Chedraui to our suggested portfolio and have withdrawn Asur, Autlan and Urbi.

Filed under: BMV - Mexico, Banking, Exchanges, Latin America, Mexico, News , , , , , , , , , , , , ,

• 6:52 am 0

Brazil: Market now with eyes on US growth – August 2010- IXE BANIF – Monthly Analysis

Spotlight moves from the euro zone to the USA

In August, we foresee the financial markets moving their attention from the euro zone to the USA. We also expect China not to have much influence on market performance this month. The results of the bank stress test released in July seem to have calmed the market and caused fears of bankruptcy to fade. The data did not indicate that problems are over, but left the feeling that they are under control with the adjustments made so far. On the other hand, the hopes that the US economy would gain momentum have diminished after the FED’s Presidential speech at the end of July. Given this, we believe that published economic data are likely to drive the market, as they will give a better idea of trends. However, as we do not foresee any data released this month as important enough to change expectations, we believe the market is likely to move sideways.

Brazil – Monthly Allocation – August 2010

Last month, we foresaw a volatile market with no trend for July and based on this belief, compiled our portfolio with a defensive view. Despite this estimate, the market did rally and our portfolio followed the trend, demonstrating that it was able to perform well in upward as well as volatile movements. For this reason, we decided that, as we do not identify any definite catalyst driving the market in August, we would change our portfolio very little and continue our defensive view. We have reduced the weights on Bradesco and Hering (from 10% to 5% each) due to their recent stellar performance. We have also substituted Tietê for Eletropaulo, with the same weight, and added Telesp.

Focus on slowdown of US economy

The latest indications of a slowdown in the US economy point to a 2.5% GDP growth for 2010, from a previous 2.7%. This reduction, although immaterial, cooled down previous expectations of upward revisions in estimates and turned attention to stimulating growth. On August 10, attention should focus on the FOMC meeting to see if a change in the monetary policy is possible. However, with interest rates already close to zero, there is probably little to be done on this front. Monitoring the labor market (unemployment and payroll) is perhaps the best hope for investors to find economic improvement.

The real start of the Brazilian Presidential race

On August 17, presidential candidates will start their TV campaigns. Although candidates have been campaigning on the road for a while, many people see TV campaigns as the most important and decisive part of the presidential race, so voting polls that start after this are closely followed and should affect the market. Another potential source for market stress is the end of the low inflation period (last two months, caused by food prices) that we foresee for August. Although we expect inflation to remain at around 0.4% per month until December, people may view any rebound negatively.

Source: BANIF – IXE, 02.08.2010

Filed under: BM&FBOVESPA, Brazil, Exchanges, Latin America, News, Wealth Management , , , , , , , , , , , ,

July 22, 2010 • 1:30 am 0

Rapid Addition Wins Bolsa de Valores de Colombia BVC

Rapid Addition, the leading global provider of low-latency trading technology solutions to financial institutions, today announced its engagement with the Bolsa de Valores de Colombia (BVC) to implement GRHub, Rapid Addition’s flagship FIX Protocol gateway and order routing hub, and u-Trader, Rapid Addition’s web-based, FIX-enabled dealing system.

u-Trader is Rapid Addition’s lightweight buy-side trading application, which connects traders to multiple trading counterparties, either brokers or execution venues. Using u-Trader gives institutions the ability to automate their flow of equity orders, equity options, program, list, and portfolio trades, and also supports Direct Market Access (DMA) and algorithmic trading.

Rapid Addition was chosen by the BVC on the basis that they could exceed the low latency performance requirements of BVC’s exchange members.

Toby Corballis, CEO of Rapid Addition, welcomed the announcement, saying:

“We are delighted to be working with the BVC by providing them with the lowest latency hub solution available on the market today. This will enable the exchange to give its users the best possible performance and help them maintain their competitive edge in the market.”

Jitendra Puri, Vice President of Technology of the Bolsa de Valores de Colombia, said:

“By choosing a firm of Rapid Addition’s industry-leading reputation, we wish to send a clear message to the community that we are totally committed to providing a fully modernized, state-of-the-art solution for the Colombian securities market. Rapid Addition’s expertise in global FIX connectivity and low-latency FIX trading technology made them the best choice for the BVC as we look to expand our offerings internationally.”

Source: A-TEAM GROUP, 23.07.2010

Filed under: Colombia, Exchanges, Latin America, News, Trading Technology , , , , , , , , ,

July 21, 2010 • 2:17 am 0

Brazil: BM&FBOVESPA Monthly News July 2010

Proposed amendments to the listing rules for BM&FBOVESPA special listing segments
These proposals are subject to review by the listed issuers, who have until August 6 to comment. The revised listing rules are expected to take effect in November, after the closed hearing and final approval.
Offerings raise BRL 22.5 billion on BM&FBOVESPA in first seven months of 2010
This was double the proceeds raised in the corresponding period of 2009.
Brazilian presidential candidate Marina Silva meets with representatives of the international financial community in New York
The objective of this meeting is to discuss the guidelines for Brazil’s 2011 development plan. This event will be held at 10:30 a.m. on July 22, 2010 in New York City.
Volumes and Trades by Direct Market Access (DMA)
In June, the BM&F segment posted a trading volume of BRL 117,086,953,000 from 12,189,291 trades, in comparison with a volume of BRL153,982,431,000 and 14,667,970 trades in May.
BM&FBOVESPA, IDB and World Bank discuss challenges related to carbon financial instruments
The meeting allowed financial institutions to exchange experiences on the carbon markets in Latin America and the Caribbean (LAC).
Citigroup selected to manage process for Unsponsored Level I Brazilian Depositary Receipts
After the official opening of bid proposals, Citigroup Brazil is authorized to request the registration of 10 (ten) Brazilian Depositary Receipts.
Exchange Traded Funds (ETFs) attract even more individual investors
The participation of individual investors in ETFs rose from 15.5% in May to 23% in June. Volume totaled BRL515.30 million from 12,083 trades in June
Corporate Sustainability Index (ISE) completes five years with enhancements to portfolio
The companies listed on ISE are recognized for their high level of commitment to sustainability and social responsibility.
BM&FBOVESPA receives Investment Grade Rating From Moody’s
The upgrade reflects the company’s low level of financial leverage, key credit strength and good financial flexibility, which can be preserved even with long-term debt in its capital structure
MARKET RESULTS – BM&F Segment June 2010
The derivatives market segment totaled 43,313,807 contracts and BRL2.87 trillion in volume. Average daily trading volume in the derivatives markets was 2,062,562.
MARKET RESULTS – BOVESPA Segment June 2010
The equities market segment traded BRL122.6 billion in 8,371,028 trades, with daily averages of BRL5.84 billion and 398,620 trades.Complete Report BVMF NEWS July 2010

Filed under: BM&FBOVESPA, Brazil, Exchanges, Latin America, News , , , , , , , , , , ,

July 16, 2010 • 9:12 pm 0

Brazil Investment Summit, Hong Kong Nov 30/Dec 1, 2010

FinanceAsia and AsianInvestor are pleased to announce that the inaugural Brazil Investment Summit will be the second event in our Spotlight on Emerging Markets series. The previous event, the Russia- Capital Raising and Investment Summit, was held in Hong Kong in April and attracted more than 300 delegates.

Throughout the economic crisis, Brazil was a case study for success; its economy remained stable while other nations foundered. As it leads Latin America out of recession, where should Asian investors look in Brazil for value?

This inaugural summit will gather Asian financial market participants exploring investment possibilities in Brazil, attendees include:

  • Asian Institutional investors looking to put money to work in Brazil
  • Deal facilitators, including investment bankers and business brokers
  • Asian/Chinese corporates looking at M&A opportunities
  • Alternative investment funds, including private equity and hedge funds
  • Brazilian corporations looking to raise capital in Asia
  • Commercial banks
  • Sovereign wealth funds
  • Insurance companies
  • Central banks
  • Investors in commodities and natural resources
  • Service providers, including consultants, law firms, and accounting firms
    		•
    For more information about the Brazil Investment Summit, please contact:
    Speaker/Delegate queries:
    Laura Brody, Conference Producer
    (+852) 3175 1917
    laura.brody@financeasia.com    		 Sponsorship queries:
    Kar Wee Ang, Conference Sponsorship Manager
    (+852) 2122 5233
    karwee.ang@financeasia.com
    www.financeasia.com/brazil

    Filed under: Asia, Banking, Brazil, Events, FiNETIK Events, Hong Kong, Latin America, News, Services, Wealth Management , , , , , , , , ,