Santander Picks Mexican Stocks As Best Future Performers.

BLOOMBERG.

Mexican stocks were upgraded to “overweight” by Banco Santander SA saying that its economy will recover faster than others in the region.

“Mexico is now our favorite among the three largest markets of the region,” Cristian Moreno, a New York-based strategist for Spain’s biggest bank, wrote in a report. “Confidence in Mexico should increase going forward, with the economy posting the strongest improvement in Latin America.”

Santander follows JPMorgan Chase & Co. in recommending Mexico over Brasil, predicting Latin America’s second-largest economy will grow 2.3 percent next year after a 6.5 percent contraction in 2009.