Tag Archives: BFR

Argentina's banks have more upside than Bank of America or Citi (BMA, BFR & BAC)

Federal Reserve Chairman Ben Bernanke has committed the United States to a low interest rate environment through at least 2013, which makes emerging market banks such as Banco Marco SA (BMA, quote) and BBVA Banco Frances SA (BFR, quote) more appealing than American money center banks such as Bank of America Corp. (BAC, quote) or Citigroup Inc. (C, quote).  Exchange traded funds such as FTSE Argentine 20 (ARGT, quote) and Wisdom Tree Emerging Market Small Cap Fund (DGS, quote) hold these stocks.

Argentina Banks Consumer Countries Interest Rates Investing Latin America Stocks

Playing the Argentine bank surge

Argentine banks surged today, with Banco Macro (BMA) and BBVA Banco Frances (BFR) in particular gaining massive ground during the session on a combination of news of former president Nestor Kirchner’s death and money flow coming from European banks to the U.S. this week.

Both BMA (quote) and BFR (quote) hit new 52-day highs, technically piercing the 61.8% extension of the Fibonacci 1

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