LATAM Weekly Summary

Key points from this week’s report:

Please refer to the attached PDF for the full report.

 

  • Brazil’s Bovespa index declined 0.8% last week. The Brazilian market was shifted to an Uptrend Under Pressure with six distribution days. We recommend clients selectively add risk in Brazilian equities.
  • Mexico’s main benchmark declined 1.0% last week. It remains in a Confirmed Uptrend with five distribution days. We recommend clients add risk in Mexican equities.
  • We added Nu Holdings (NU) to the Focus List, taking the total number of buy recommendations in the LATAM region to 12. Mercadolibre (MELI) and Coca Cola Femsa (KFBL.MX; KOFUBL:MM) are actionable.
  • Stocks of Interest: XP (XPB.BR; XPBR31:BZ), Iguatemi (IG9.BR; IGTI11:BZ), Neoenergia (3GN.BR; NEOE3:BZ), Cyrela (3CY.BR; CYRE3:BZ), Regional (GFR.MX; RA:MM) and Arca Continental (ARC.MX; AC*:MM).

LATAM Weekly Summary

Key points from this week’s report:

Please refer to the attached PDF for the full report.

 

  • Brazil’s Bovespa index declined 1.6% last week and found support near the 21-DMA. It remains in a Confirmed Uptrend with five distribution days. We recommend clients add risk in Brazilian equities.
  • Mexico’s benchmark index declined 2.1% last week and undercut support at the 21-DMA. The index remains in a Confirmed Uptrend with four distribution days. We recommend clients add risk in Mexican equities.
  • The total number of Focus List stocks remains at 11: Oncoclinicas (ODB.BR; ONCO3:BZ) and Banorte (GTB.MX; GFNORTEO:MM) are actionable.
  • Stocks of interest: Cielo (VIS.BR; CIEL3:BZ), Iguatemi (IG9.BR; IGTI11:BZ), Raia Drogasil (DR3.BR; RADL3:BZ), Regional (GFR.MX; RA:MM), Genterra (CSV.MX; GENTERA*:MM), Aguas Andinas (EMO.CL; AGUAS/A:CI) and Arca Continental (ARC.MX; AC*:MM).

LATAM Weekly Summary

Key points from this week’s report:

Please refer to the attached PDF for the full report.

 

  • Brazil’s Bovespa was up 2.4% last week and is slightly below all-time highs. It remains in a Confirmed Uptrend with three distribution days. We recommend clients add risk in Brazilian equities.
  • Mexico’s main benchmark rallied 5.0% and hit a new all-time high last week. It remains in a Confirmed Uptrend with four distribution days. We recommend clients add risk in Mexican equities.
  • We added Coca-Cola Femsa (KFBL.MX; KOFUBL:MM), Fleury (FLE.BR; FLRY3:BZ) and Oncoclinicas (ODB.BR; ONCO3:BZ) to the LATAM Focus List, taking the total number of Focus List stocks to nine. Apart from last week’s additions, Banco BTG Pactual (BPC.BR; BPAC11:BZ) is actionable.
  • Stocks of interest: Ecorodovias (EON.BR; ECOR3:BZ), Cyrela (3CY.BR; CYRE3:BZ), Itausa (IS4.BR; ITSA4:BZ), Inter (IP9.BR; INBR32:BZ), Allos (SSB.BR; ALOS3:BZ), YDUQS (EST.BR; YDUQ3:BZ), Regional (GFR.MX; RA:MM), Banorte (GTB.MX; GFNORTEO:MM) and Banco de Chile (CLE.CL; CHILE:CI).

LATAM Weekly Summary

Key points from this week’s report:

Please refer to the attached PDF for the full report.

 

  • Brazil’s Bovespa declined 0.9% last week. The index remains in a Confirmed Uptrend. We recommend clients add risk in Brazilian equities.
  • Mexico’s main benchmark index gained 0.9% last week and is just 2% off highs. It remains in a Confirmed Uptrend. We recommend clients add risk in Mexican equities.
  • The number of Focus List ideas in the LATAM region remains at six. Banco BTG (BPC.BR, BPAC11: BZ) and Smartfit (SED.BR; SMFT3:BZ) are actionable.
  • Stocks of interest: Banorte (GTB.MX; GFNORTEO:MM), Arca Continental (ARC.MX; AC*:MM), Fleury (FLE.BR; FLRY3:BZ), Cogna Educacao (KRO.BR; COGN3:BZ) and Oncoclinicas (ODB.BR; ONCO3:BZ).