Best of Thursday’s web
Global markets experienced another down day as woes over the euro zone crisis multiply. Today, we’ll look into a possible downgrade of Spanish banks, BRIC bear markets, and Colombian political violence.
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Global markets experienced another down day as woes over the euro zone crisis multiply. Today, we’ll look into a possible downgrade of Spanish banks, BRIC bear markets, and Colombian political violence.
Spanish oil firm Repsol (REPYY, quote) has filed a lawsuit with the World Bank’s arbitration unit ICSID over their claim that Argentina’s nationalization of YPF (quote) was illegal. Does this mean it’s time to jump back into REPYY or YPF?
Look at the chart for just about any of your favorite emerging market stock, currency or commodity ETF and you’ll see things have gotten nasty all over the planet. This is when the inverse, short, or “bear” funds thrive.
Trouble in Brazil and Argentina may have been dominating Latin American investment news, but that’s no reason for investors to shun the region.
American markets ended up shrugging off JP Morgan’s (JPM, quote) surprise announcement of a $2 billion trading loss, trading roughly flat on the day. Elsewhere around the world, other than more poor Chinese data, markets were relatively quiet compared to the heavy volume of news over the past few weeks pertaining to Europe.
Singapore Airlines reported its first quarterly loss in more than two years this week on the back of higher fuel costs, weak demand from Europe, and increased competition from rapidly expanding Middle Eastern carriers.
Global markets continued to slide to the downside on, you guessed it, concerns over the economic future of Europe. As well, in-line earnings from MercadoLibre saw one of the darlings of emerging markets drop precipitously.