Bloomberg News

ANDEAN DAYBOOK: Chile Central Bank Reports Rate, Colombia Trade

August 16, 2012

Chilean policy makers will publish their decision on the benchmark interest rate, which has remained unchanged at 5 percent since February this year.

All events listed in country’s local time.

WHAT TO WATCH: *Chile: Empresas CMPC SA, a Chilean pulp exporter, is scheduled to report second quarter results *Central bank will publish its reference rate decision after 6 p.m. *Peru: Officials from HudBay Minerals Inc. (HBM), a Canadian copper and zinc producer, are scheduled to give a presentation on the company’s Constancia copper project at a Canadian Chamber of Commerce event. *Colombia: 4 pm Trade balance report.

ECONOMY: *Peru’s economic activity rose 7.1 percent in June from a year earlier, the government’s statistics agency said. The unemployment rate fell to 6.2 percent last month, compared with 6.3 percent in June. *Peru’s central bank bought $110 million in the spot market to stem gains in the sol. *Standard & Poor’s raised the outlook on Colombia’s credit rating to positive from stable and said the country’s debt rating may be raised as economic growth in the Andean country increases revenue and leads to lower debt levels. *Colombia’s Treasury will buy “at least” $300 million to seek a competitive exchange rate and avoid defeat in the currency war, Finance Minister Juan Carlos Echeverry told reporters in Bogota.

EQUITIES: *Peru’s securities regulator reduced its fee on stock trades by 10 percent as of Sept. 3. *Luna Gold (LGC) gained 4.2% after saying on Aug. 14 that second- quarter profit rose to $7.8 million. *Avianca Taca fell 1.4 percent, the most in a week, after reporting second quarter-profit of 8.79 billion pesos, trailing estimates by Bolsa y Renta and Interbolsa.

MARKETS: *Colombia: IGBC Index (IGBC) jumped 1.1%; Colcap Index (COLCAP) gained 0.7%; Peso weakened 0.8% to 1,817.80. *Peru: Lima General Index (IGBVL) rose 0.1%; MSCI All Peru Capped Index fell 0.1%; Sol was little changed at 2.6174. *Chile’s market was closed.

To contact the reporter on this story: Christine Jenkins in Bogota at cjenkins28@bloomberg.net.

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net.


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