The optimism is coming from the news that the Italian government is working on a plan to set up a state backed fund to provide capital to banks and to buy bad loans. As a full disclosure we have a position in Italy.
Brazil is deploying a large number of troops in Brasilia, the capital city, to contain potential riots as Congress holds votes on the impeachment of Rousseff.
In the mineral rich country of Peru, center right candidate, Fujimori wins the first round of presidential election. The second candidate, most likely, will be Pedro Pablo Kuczynski (PPK) This is good news for many Peruvian mineral stocks including the big one SCCO.