JPMorgan lowered its growth forecasts for Chile from 1.1% to 0.9% by 2020, an estimate only higher than 0.7% of UBS, and slightly below the midpoint of the Central Bank range (0,5%-1,5%). In addition to the impact of the coronavirus emergency on the Chilean economy, its latest report adds concern about social instability in the country with potential repetition of violent demonstrations in March prior to the plebiscite for a new Constitution.
Golden Arrow Resources Corporation revealed that a drill program had kicked off at the Indiana gold-copper project in Chile - a near-term production target. Initial work includes a minimum of 2,500 metres in 12 holes, to test the Bondadosa, Flor de Espino and Rucas veins, the firm said. The project is within an Iron-oxide-copper-gold belt that includes deposits such as Manto Verde, Candelaria and Cerro Negro Norte.
In trading on Wednesday, shares of Banco de Chile (BCH) entered into oversold territory, hitting a Relative Strenght Index (RSI) reading of 29.2, after changing hands as low as $19.11 per share. A stock is considered to be oversold if the RSI reading falls below 30. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 66.2.
The national stock exchanges of Colombia, Chile and Peru are conducting early-stage analysis looking into the viability of consolidating their infrastructures and/or services, after establishing the Latin America Integrated Market (MILA) for exchange connectivity in 2011. According to statements, the boards of all three exchanges have backed the creation of a commission to monitor the integration assessment process.
The International Trade Hub at Port Manatee has opened an office in Santiago, the third for the USA Florida seaport’s trade hub, which provides advice and support tools to local and global firms. “The staffed presence in Santiago ideally complements overseas offices opened in early 2019 in Medellin, Colombia, and Barcelona, Spain," executive director Carlos Buqueras said in a statement.