Santander Next To Capitalise On Bovespa's Rally

The next big IPO to hit the Brazilian market looks set to be Banco Santander Brazil, the Brazilian subsidiary of Spain's Banco Santander. The bank would be the latest in a line of companies in Brazil to capitalise on the Bovespa's promising outlook. The move ties in with BMI's bullish outlook for Brazilian equities, after the Bovespa index surpassed our Latin America team's key resistance level of 55,000 on August 3, and for the Brazilian economy in general.

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