ANDEAN DAYBOOK: Chile Survey; Colombia Bank Minutes; Peru Trade
February 10, 2012, 8:11 AM ESTBy Nathan Gill
Feb. 10 (Bloomberg) -- Chile’s central bank will publish its monthly survey of economists, who give forecasts for the interest rate, inflation, the peso and gross domestic product, at 8:30 am local time.
WHAT TO WATCH: -- Cia. Sudamericana de Vapores SA, Latin America’s largest container shipping company, begins a second rights offering as part of a planned $1.2 billion capital increase. -- Colombia’s central bank will release minutes of the Jan. 30 meeting, where policy makers unexpectedly raised interest rates, at 10 am local time. -- Peru’s Southern Copper Corp. will hold its fourth-quarter earnings conference call, hosted by Raul Jacob, head of investor relations at 11 am local time. -- Peru’s National Statistics Institute is scheduled to release its December trade report at 8:30 am local time. -- Peru’s central bank chief analyst Adrian Armas is scheduled to hold the bank’s monthly conference call on its reference rate decision at 12 am local time.
ECONOMY: -- Member countries will give the Inter-American Development Bank a capital increase of $70 billion to increase funding in Latin America, the Washington-based lender said.
EQUITIES: -- Cencosud SA, Chile’s biggest retailer by sales, said it is considering selling American depositary receipts as part of an already approved capital increase. -- Lan Airlines SA, Latin America’s biggest airline by market value, reported a 10.4 percent increase in passenger traffic last month from the previous year. -- Chile’s IPSA Index gained 1 percent to 4,403.95. The MSCI Chile Index increased 1.4 percent to 2,595.42. -- Colombia may not sell a stake in oil producer Ecopetrol SA this year given the government’s expectations for revenue from higher tax receipts and sales of electricity companies, Finance Minister Juan Carlos Echeverry said. -- Cementos Argos SA, Colombia’s biggest cement maker, said shareholders have approved the sale of 1 trillion pesos of bonds and short-term notes in the domestic market. -- Banco de Occidente SA, Colombia’s fifth-biggest lender, sold 200 billion pesos of subordinated bonds in the local market. -- Colombia’s IGBC Index rose 0.4 percent to 14,111.22, while the Colcap Index advanced 0.2 percent to 1,658.67. -- Southern Copper Corp., the largest producer of the metal in Peru and Mexico, said it rescheduled the startup date of its Tia Maria mine in Peru to 2015. -- The Lima General Index slumped 0.2 percent to 22,697.16. The MSCI All Peru Capped Index was little changed at 2,859.26.
MARKETS: -- Chile’s peso gained 0.5 percent to 475.35 per U.S. dollar from 477.78 on Feb. 8. -- Colombia may take further action to curb the peso’s appreciation as it fights its “own little currency war” to protect export industries, Finance Minister Juan Carlos Echeverry said. -- Colombia’s peso rose 0.2 percent to 1,776.45 per dollar. The yield on Colombia’s 10 percent bonds due July 2024 fell four basis points, or 0.04 percentage point, to 7.37 percent. -- Peru’s sol was little changed at 2.6874. The yield on the nation’s benchmark 7.84 percent sol-denominated bond due August 2020 declined two basis point, or 0.02 percentage point, to 5.63 percent.
--With assistance from Blake Schmidt in Bogota and John Quigley in Lima. Editor: James Attwood
To contact the reporter on this story: Nathan Gill in Quito at ngill4@bloomberg.net
To contact the editor responsible for this story: James Attwood at jattwood3@bloomberg.net
