With earnings season behind us and the fall quarter looming, investors are free to catch up to some emerging markets stories that got lost in the news flow.
BRAZIL: Now that Telefonica’s (TEF, quote) bitter fight with one-time partner Portugal Telecom (PT, quote) over Brazilian wireless network Vivo (VIV, quote) is over, the clear winner is . . . Telesp (TSP, quote).
But if there are winners, there are also losers, and one name stands out in particular. (subscriber content)
INDIA: Vedanta’s troubled $9 billion bid to add Cairn India to its list of subsidiaries has caused unintended consequences to U.S.-traded Sterlite Industries (SLT, quote).
SLT is down 23% so far this year. But analysts say traders are overreacting to news that does not affect this Indian mining company’s fundamentals at all. (subscriber content)
CHINA:: China Life (LFC, quote) is the world’s biggest life insurance company, with $26 trillion in premiums on its books. So why is this giant down 18% so far this year?
LFC blames a sour Shanghai stock market for its disappointing second quarter. However, smaller Chinese insurance companies have not had nearly as much trouble. Perhaps LFC is not too big to fail, or other factors may be involved. (subscriber content)
ETFs in the Spotlight
EEM (quote) is the $40 billion grandfather of all emerging markets portfolios. It will be hard to collect all 668 stocks in this admirably diversified ETF on your own, but how close can you get?