Chavez completes final “Weekend at Bernie’s”
Ever seen “Weekend at Bernie’s”? Go check it out. Meanwhile now that Chavez’ death is a formality how do you play Venezuelan markets, and what has truly changed?
Tag Archives: EC
Why Ecopetrol is rivaling Petrobras for Latin American domination
As of Monday’s close, Colombian oil company Ecopetrol (EC, quote) once again has a larger market cap than Brazilian giant Petrobras (PBR, quote). Do current market prices for these equities reflect their true valuations?
Economic growth and currency weakness will undermine Petrobras shares
Hopes earlier this year that the Brazilian government would allow gasoline prices to increase and stop losses by the refinery unit of Petrobras (PBR, quote) have not worked out for investors. Bloomberg reports that Latin America’s 2nd largest oil & gas company is losing a record $8 billion this year by selling imported gasoline below cost.
Friday’s best web
Friday’s best web covers Indian companies seeking access to China, a summary of the Turkish information and consumer technology sector, collapsing tin prices, Essar’s procurement of Colombian oil, and the “toilet of the future.”
Central bank may try to further depress Colombian peso
Cesar Vallejo, co-director of the Central Bank of Colombia, said this week that the country’s monetary authorities are open to further market intervention to help stem this year’s 7.7% appreciation in the Colombian peso.
Sasol and Ecopetrol: benefitting from a weak yuan and dollar
China has been actively weakening the yuan (CNY, quote) recently in preparation for a falling dollar because of more economic stimulus measures. Due to this market action, major oil stocks such as Ecopetrol (EC, quote) and Sasol Ltd (SSL, quote) are becoming more attractive with dollar strength inversely correlated to the price of crude.
Colombian economy sees first rate cut in two years
The Colombian Central Bank surprised investors last week with a cut in rates to 5.0%, its first since 2010. The Colombian economy had been one of the few in the region to continue a restrictive policy in the face of the global economic slowdown.
