For Immediate Release

Chicago, IL – July 30, 2009 – Zacks.com announces the latest Industry Outlook. Today’s outlook from Zacks Equity Research analyst Ann Heffron discusses the Non-U.S. Banks sector. Highlighted stocks include: Itau Unibanco Holding S.A. (ITUB), Banco Santander Santiago (SAN) and HDFC Bank Limited (HDB).

Here is the latest on the Non-U.S. Banks sector:

Specific banks that we like include Itau Unibanco Holding S.A. (ITUB) in Brazil, Banco Santander Santiago (SAN) in Chile and HDFC Bank Limited (HDB) in India.

ITUB is the largest bank in Brazil following the February 2009 merger of Uniao de Bancos Brasileiros S.A. and Banco Itau Holding Financeira S.A., with R$575 billion (US$240 billion) in assets, 4,800 branches, and a 19% share of the Brazilian loan market.

SAN is the largest private bank in Chile (total assets of Ch$21,137 billion

...

In general, we believe it is still a bit early to get involved with non-US bank stocks as the fundamental outlook remains weak -- asset quality will continue to deteriorate as individuals and companies default on loans, and revenues should continue to fall as loan growth falters and investment banking faces a dearth of new business in the face of economic slowing.

Consumer job losses and sluggish business conditions are increasing worldwide, which will tend to dampen demand for credit, even assuming banks are capable of lending more. Moreover, these factors will also hurt asset quality and increase losses on the existing "good" loan portfolios, even apart from considerations of toxic assets. Combined with top-line pressure due to weakening economic conditions, non-US banks face a daunting outlook.

That said, we believe that banks in stable emerging economies, such as Chile, Brazil or India, may be more attractive investments -- similar to what

...

In general, we believe it is still a bit early to get involved with non-US bank stocks as the fundamental outlook remains weak -- asset quality will continue to deteriorate as individuals and companies default on loans, and revenues should continue to fall as loan growth falters and investment banking faces a dearth of new business in the face of economic slowing.

Consumer job losses and sluggish business conditions are increasing worldwide, which will tend to dampen demand for credit, even assuming banks are capable of lending more. Moreover, these factors will also hurt asset quality and increase losses on the existing "good" loan portfolios, even apart from considerations of toxic assets. Combined with top-line pressure due to weakening economic conditions, non-US banks face a daunting outlook.

That said, we believe that banks in stable emerging economies, such as Chile, Brazil or India, may be more attractive investments -- similar to what

...

In general, we believe it is still a bit early to get involved with non-US bank stocks as the fundamental outlook remains weak -- asset quality will continue to deteriorate as individuals and companies default on loans, and revenues should continue to fall as loan growth falters and investment banking faces a dearth of new business in the face of economic slowing. Consumer job losses and sluggish business conditions are increasing worldwide, which will tend to dampen demand for credit, even assuming banks are capable of lending more. Moreover, these factors will also hurt asset quality and increase losses on the existing "good" loan portfolios, even apart from considerations of toxic assets. Combined with top-line pressure due to weakening economic conditions, non-US banks face a daunting outlook. That said, we believe that banks in stable emerging economies, such as Chile, Brazil or India, may be more attractive ...

A Canadian defense reporter has dug a a little bit of gossip about a fight between the bodyguards of Hugo Chavez and Dmitry Medvedev last year, which may have caused Caracas to cancel its deal to buy some Russian submarines.  (Hat tip to Joshua Keating at FP).Didn't these Russians know who they are messing with?  Even if Nikolai Valuev headed up Medvedev's entourage, he'd be snuffed out after just one kidnapping from one of the Chavista militias like La Piedrita. It apparently all went down during the big dog-and-pony show (Dec. 19, 2008) when the Russians sent the Peter the Great warship into the Caribbean for exercises with the Venezuelans and Cubans.  When Chavez boarded the frigate for an inspection, his security detail attempted to follow him but were stopped ...

For Immediate Release

Chicago, IL - May 13, 2009 - Zacks.com announces the latest Industry Outlook. Today's outlook from Zacks Equity Research analyst Ann Heffron discusses the Non-U.S. Banks sector. Highlighted stocks include: Itau Unibanco Banco Multiplo S.A. (ITU), Banco Santander Santiago (SAN) and HDFC Bank Limited (HDB).

Here is the latest on the Non-U.S. Banks sector:

Specific banks that could outperform include Itau Unibanco Banco Multiplo S.A. (ITU) in Brazil, Banco Santander Santiago (SAN) in Chile, and HDFC Bank Limited (HDB) in India.

ITU is the largest bank in Brazil, following the February 2009 merger of Uniao de Bancos Brasileiros S.A. and Banco Itau Holding Financeira S.A. (or Itau), with R$575 billion (US$240 billion) in assets, 4,800 branches, and a 19% share of the Brazilian loan market.

SAN is the largest private bank in Chile (total assets of Ch$21,137 billion or US$33.6

...

In general, we believe it is still a bit early to get involved with non-US bank stocks as the fundamental outlook remains weak -- asset quality will continue to deteriorate as individuals and companies default on loans, and revenues should continue to fall as loan growth falters and investment banking faces a dearth of new business in the face of economic slowing.

Consumer job losses and sluggish business conditions are increasing worldwide, which will tend to dampen demand for credit, even assuming banks are capable of lending more. Moreover, these factors will also hurt asset quality and increase losses on the existing "good" loan portfolios, even apart from considerations of toxic assets. Combined with top-line pressure due to weakening economic conditions, non-US banks face a daunting outlook.

That said, we believe that banks in stable emerging economies, such as Chile, Brazil or India, may be more attractive investments, similar to what

...

In general, we believe it is still a bit early to get involved with non-US bank stocks as the fundamental outlook remains weak -- asset quality will continue to deteriorate as individuals and companies default on loans, and revenues should continue to fall as loan growth falters and investment banking faces a dearth of new business in the face of economic slowing.

Consumer job losses and sluggish business conditions are increasing worldwide, which will tend to dampen demand for credit, even assuming banks are capable of lending more. Moreover, these factors will also hurt asset quality and increase losses on the existing "good" loan portfolios, even apart from considerations of toxic assets. Combined with top-line pressure due to weakening economic conditions, non-US banks face a daunting outlook.

That said, we believe that banks in stable emerging economies, such as Chile, Brazil or India, may be more attractive investments, similar to what

...

In general, we believe it is still a bit early to get involved with non-US bank stocks as the fundamental outlook remains weak -- asset quality will continue to deteriorate as individuals and companies default on loans, and revenues should continue to fall as loan growth falters and investment banking faces a dearth of new business in the face of economic slowing. Consumer job losses and sluggish business conditions are increasing worldwide, which will tend to dampen demand for credit, even assuming banks are capable of lending more. Moreover, these factors will also hurt asset quality and increase losses on the existing "good" loan portfolios, even apart from considerations of toxic assets. Combined with top-line pressure due to weakening economic conditions, non-US banks face a daunting outlook.That said, we believe that banks in stable emerging economies, such as Chile, Brazil or India, may be more ...

Bernanke Sees Late-09 Turnaround; Canadian Dollar Hits Six-Month High; Kraft Beats 1Q Estimates; South Africa Unemployment Hits 23.5%; Service Sector Gains Ground; AIG’s First Quarter Loss Expected to Shrink; Some Traders Oppose Up-Tick Rule; Chile’s Peso Rallies to 7-Month High Against Dollar

U.S. Federal Reserve Chairman Ben Bernanke said the U.S. economy will begin to “turn up later this year,” contingent upon the financial sector’s continued improvement, Reuters reported. Speaking to a congressional committee, Bernanke said the housing market may be bottoming out and pointed to improving consumer spending. The Canadian dollar hit its highest point since November. “The market is now willing to embrace risk and move clean of the safety associated with the U.S. dollar,” Stewart ...