02 února 2009


Venezuela bonds fell the most in Latin America since December on Hugo Chavez’s bid to abolish term limits; Argentina’s tax revenue probably set a record in January; Rio Tinto is in talks to sell a stake to Chinalco to raise funds and crude oil futures fall on concern fuel demand is slowing.

Chavez Bonds Worst in Latin America Amid President-for-Life Bid: Bond investors are telling Hugo Chavez he should be voted out of office instead of winning his campaign to serve as Venezuela’s president another 10 years.

Argentine Tax Income Probably Set Record in January: Week Ahead: Argentina’s government revenue probably rose to a record in January as workers who had contributed to private pension funds, which were seized by the government in December, began paying into the state social security system.

Rio Tinto in Talks to Sell Stake to Chinalco to Raise Funds: Rio Tinto Group, the world’s third-largest mining company, may raise cash from Aluminum Corp. of China, tapping its largest shareholder to reduce $38.9 billion of debt.

Crude Oil Futures Fall on Concern That Fuel Demand Is Slowing

Crude oil fell in New York on concern that further economic contraction in the U.S., the world’s biggest energy consumer, may limit fuel demand.



Banco Bradesco SA (BBDC4 BZ): Preferred shares were downgraded to “hold” on Jan. 30 by Banco Safra SA analyst Victor Martins. Bradesco, Brazil’s second-biggest bank after the merger between Banco Itau Holding Financeira SA (ITAU4 BS) and Uniao de Bancos Brasileiros SA (UBBR11 BS), fell 1.2 percent to 20.80 reais.

Banco Indusval SA (IDVL4 BS): HSBC Brasil Bank SA, the Brazilian unit of HSBC Holdings Plc, said it now holds 8.8 percent of the company. HSBC’s Brazilian unit also said it owns

15 percent of Sao Carlos Empreendimentos e Participacoes SA

(SCAR3 BS). Indusval was unchanged at 5 reais. Empreendimentos rose 0.9 percent to 10.09 reais.

CHILE Cap SA (CAP CI): Net income last year was $293 million, according to a regulatory filing. Cap had profit of $236 million in 2007, Bloomberg data show. Chile’s biggest steelmaker fell 0.4 percent to 8,002.4 pesos.


Bancolombia SA (BCOLO CB): The board of Colombia’s biggest lender agreed to pay a dividend of 624 pesos per share in quarterly installments. That’s a 9.9 percent increase on last year’s payments, the bank wrote in a Jan. 30 regulatory filing.  Bancolombia rose 0.9 percent to 12,980 pesos.


·         Brazil: The trade deficit was $845 million in January, compared with a surplus of $2.3 billion during December, according to the median forecast of 10 economists surveyed by Bloomberg. The Trade Ministry will report the data at 8 a.m. New York time.

·         The real fell 1.3 percent to 2.323 per dollar.

·         The yield on the zero-coupon, real-denominated bond due in January 2010 fell 11 basis points, or 0.11 percentage point, to

·         11.27 percent, according to Banco Votorantim.

Other prices in Latin American markets:

Argentina: The peso dropped 0.1 percent to 3.4885 per dollar.

The yield on the country’s inflation-linked peso bonds due in December 2033 rose one basis point to 16.55 percent, according to Citigroup Inc.’s local unit.

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