|Bid||6.21 x 0|
|Ask||7.06 x 0|
|Day's range||0.00 - 0.00|
|Beta (5Y monthly)||1.31|
|PE ratio (TTM)||9.79|
|Earnings date||07 Aug 2018|
|Forward dividend & yield||0.27 (3.93%)|
|Ex-dividend date||05 Jan 2023|
|1y target est||N/A|
Fortitude Capital, founded by former Goldman Sachs partner Antonio Esteves, Brazilian bank BTG Pactual and Portuguese asset manager Atrium, has launched its first fund with a target size of up to 500 million euros ($550 million). Esteves said on Tuesday that, though focused on investing in Portugal, the fund would not exclude opportunities abroad, and was targeting any sector through instruments such as equity, hybrid debt or senior debt. He said that, contrary to the majority of funds in Portugal, the first Fortitude fund would be mostly funded by private investors and its founders will be the fund's biggest investors.
BTG Pactual, one of Latin America's largest investment banks, has introduced a dollar-backed stablecoin through its crypto platform Mynt.
Brazil's BTG Pactual said on Tuesday it will launch a stablecoin priced in U.S. dollars at a parity of one to one, as it seeks to position itself in the digital assets market. The stablecoin, called BTG Dol, will be available on Mynt, the bank's crypto-asset platform, and through BTG Pactual's own investment system. A stablecoin is a type of cryptocurrency that is pegged to a stable asset as a way to reduce volatility.
The Mexican government's latest move to tighten control over its potentially lucrative lithium reserves fails to resolve the puzzle of how it can lure needed private industry expertise while keeping most profits for state coffers. Last Saturday, President Andres Manuel Lopez Obrador signed his latest presidential decree on lithium, establishing a more than 900-square-mile (235,000 hectare) lithium mining zone in northern Sonora state, stating that existing concessions within it "remain safe." But the order also declared "no mining activity can be carried out related to lithium" within this area.
Banco BTG Pactual SA on Monday became the latest Brazilian lender to be affected by bad credit provisions due to what it called a "specific, widely publicized event," likely referring to the bankruptcy of Americanas SA. BTG, which was among the most exposed lenders to the Brazilian retailer's debt, echoed measures taken by some of Latin America's largest banks and set aside billions of reais in the fourth quarter, leading to a lower-than-expected net profit. Shares in the lender rose more than 3% after the report, placing it among the top gainers on Brazil's Bovespa benchmark stock index, as it pledged to improve results this year and the provisions were somewhat expected.
Brazilian banks may start setting aside provisions for losses with retailer Americanas already in the fourth quarter of 2022, analysts say. Banks such as BTG Pactual, Bradesco,Santander Brasil, Itaú Unibanco Holding and Banco do Brasil have around 15 billion reais in loans with Americanas, according to analyst reports. Analysts estimate the banks may provision around 30% of their loans in the fourth quarter, which would be equivalent to 4.5 billion reais ($890 million), even with bankruptcy protection taking place in January, as a precautionary measure allowed by the Brazilian central bank.
Brazilian bank BTG Pactual obtained a court decision on Wednesday overturning part of Americanas SA's protection from creditors, according to court documents seen by Reuters, in a move the retailer says "harms its viability". The decision of appeal judge Flavio Horta Fernandes reversed a previous order that BTG Pactual return money it received from the company's accounts with the bank to pay for a credit line. BTG confirmed the decision in a securities filing, but did not give details.
Brazilian lenders BTG Pactual, Bradesco and Santander Brasil are among those most exposed to debt of Americanas SA, analysts' estimates showed on Monday, after the retailer obtained an injunction protecting it from creditors. Analysts at JPMorgan and Citi said in research notes that Banco Bradesco SA had the largest nominal exposure to the firm, while Banco BTG Pactual SA topped exposure as a proportion of loans.
(Bloomberg) -- Americanas SA shares sank further after the Brazilian retailer, whose main backers include billionaire Jorge Paulo Lemann, obtained a decision that paves the way for a potential bankruptcy filing, sparking a legal reaction from creditors that accuse the company of fraud.Most Read from BloombergNew Zealand Prime Minister Ardern Announces Shock ResignationMore Young Americans Are Dying, But Not From VaccinesCrypto Firm Genesis Is Preparing to File for BankruptcyUsain Bolt Lost $12 M
SAO PAULO (Reuters) -A new law allowing soccer clubs in Brazil to seek outside investment is attracting hundreds of millions of dollars to a country renowned as football's biggest source of talent, a change that could see Brazilian teams rival Europe's top tier. The surge of fresh, mostly foreign, cash coincides with an agreement last May by Brazil's largest clubs to create a league modeled on Britain's Premier League that will centralize talks to sell transmission rights and marketing contracts. Together, the recent developments have spawned a funding bonanza for the Brazilian teams, which have long been fan-owned operations closed to outside investors.
SAO PAULO (Reuters) -Brazilian motor maker WEG SA on Wednesday reported a drop in quarterly net income and said operating margins remained under pressure from supply chain issues, sending its shares down. WEG's net income fell 19.5% to 912.96 million reais ($168.64 million) in the second quarter, while operating margins missed 2021 levels amid rising raw material costs. The company's shares were down 3.5% at 26.03 reais in morning trading, making it one of the biggest fallers on Brazil's Bovespa stock index, which fell 0.9%.