Short interest in Banco Santander Chile increases 24.1%

Banco Santander Chile (BSAC) was the recipient of a large increase in short interest during October. On October 30th, short interest totalled 1,800,000 shares. This is a 24.1% increase compared to October 15th. Currently, 0.4% of the shares of the company are sold short. Based on an average daily volume of 533,700 shares, the days-to-cover ratio is presently 3.4 days.

Joyvio injects $167m bond into Australis Seafoods

Joyvio Group, owned by Chinese computer giant Legend Holdings, has agreed to purchase a $167 million perpetual bond issued by its arm that acquired Chilean salmon farmer Australis Seafoods. The bond follows a cash injection last month that increased Joyvio's share in the firm from 16.2% to 46.1%. The bond and cash injection come amid heavy losses at Agri-Joyvio, which acquired Australis Seafoods for $922 million in 2019.

Zacks Investment Research downgrades SQM to Sell rating

Sociedad Química y Minera de Chile (SQM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors. Three other investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $29.42.

Argentina, Uruguay and Chile join forces to attract investors

In the context of COVID-19 Argentina, Uruguay and Chile are organising a forum to attract investors with a focus on emerging companies. The Southern Cone Investment Forum (FICS) is a virtual event that aims to show the strength and economic appeal of these South American countries. The event will be held on 24th & 25th November.

Piñera: Covid caused the loss of 2 million jobs

Chilean President Sebastián Piñera acknowledged that two million jobs have been lost in a few months as a result of the economic impact of the Covid-19. The figure is equivalent to what was created in the last ten years. Piñera said that recovering those jobs will be one of the government's priorities. He added that the economic recovery plan in Chile involves a major effort equivalent to 11% of the Gross Domestic Product (GDP).