Moody's Investors Service has downgraded the credit rating on 28 Spanish banks, including Banco Santander, less than a month after cutting the nation's sovereign rating.
CHILE - Chile's private pension funds, the country's biggest stock investors, probably will continue selling local equities after a region-beating rally took their holdings to maximum-allowed levels, Banco Santander SA wrote.
SPAIN - Assets under management (AUM) of pension funds falling under the individual system category increased by 6.9% in 2009 to €51.6bn (US$74.8bn) largely due to positive investment returns, data from research company VDOS Stochastics revealed.