Bloomberg News

Peru Stocks: Cerro Verde, Credicorp, Intergroup, Southern Copper

September 29, 2011

Sept. 29 (Bloomberg) -- The following companies had unusual price changes in Peru trading. Stock symbols are in parentheses and share prices are as of 4:10 p.m. New York time.

The Lima General Index fell for the eighth session in nine, losing 0.6 percent to 18,435.79. The MSCI All Peru Capped Index slid 0.4 percent to 2,334.32.

Industrial and banking stocks dropped on growing investor concern over a possible global recession, Inteligo SAB analyst Rodrigo Zuazo said today in a telephone interview.

Cementos Lima SA (CEMLIMC1 PE), the country’s biggest cement maker, fell 2.8 percent to 2.10 soles. Intergroup Financial Services Corp. (IFS PE), the owner of Peru’s fourth- largest bank, Interbank, declined 2.3 percent to $23.15 after Chief Executive Officer Luis Castellanos said investment in Peru has slowed on political uncertainty. Credicorp Ltd. (BAP PE), Peru’s largest financial-services holding company, slid 2.3 percent to $91. Scotiabank Peru SA (SCOTIAC1 PE), the local unit of Canada’s third-largest bank, fell 1.1 percent to 43 soles.

Miners dropped after copper and zinc declined in London and strikes shut two mines.

Alturas Minerals Corp. (ALT PE), a Canadian gold and copper exploration company, fell 7.7 percent to 12 cents. Rio Alto Mining Ltd. (RIO PE), a Canadian gold exploration company, dropped 5.9 percent to $2.40 after a strike halted operations today. Southern Copper Corp. (SCCO PE), Peru’s biggest copper producer, slid 2.9 percent to $25.40. Sociedad Minera Cerro Verde SA (CVERDEC1 PE), a unit of Freeport-McMoRan Copper & Gold Inc., fell 1.2 percent to $33.80 as workers began a strike today for higher wages.

--Editor: Glenn J. Kalinoski

To contact the reporter on this story: Alex Emery in Lima at aemery1@bloomberg.net.

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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