Bloomberg News

Peru Stocks: Cerro Verde, Ferreyros, Intergroup, IRL, Panoro

October 20, 2011

Oct. 20 (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 a third session in four, losing 1.1 percent to 18,567.91. The MSCI All Peru Capped Index slid 0.7 percent to 2,425.33.

Industrial and banking stocks dropped on investor concern that Europe won’t be able to solve its debt crisis, Inteligo SAB analyst Rodrigo Zuazo said today in a telephone interview.

Intergroup Financial Services Corp. (IFS PE), the owner of Peru’s fourth-largest bank, Interbank, declined 2 percent to $25.95. Ferreyros SA (FERREYC1 PE), the Lima-based distributor for Caterpillar Inc., fell 2.1 percent to 2.30 soles. Corp. Aceros Arequipa SA (CORAREI1 PE), the Lima-based steelmaker, dropped 1.9 percent to 2.11 soles. BBVA Banco Continental SA (CONTINC1 PE), the local unit of Spain’s Banco Bilbao Vizcaya Argentaria SA, slid 1.8 percent to 5.55 soles.

Miners dropped after metals slumped in New York and London.

Panoro Minerals Ltd. (PML PE), a Canadian exploration company, fell for a fourth day, losing 4.9 percent to 39 cents. Minera IRL Ltd. (MIRL PE), a U.K. minerals explorer with a gold mine in Peru, dropped 3.7 percent to $1.03. Minsur SA (MINSURI1 PE), the world’s fourth-largest tin producer, declined 3.4 percent to 2.55 soles. Sociedad Minera Cerro Verde SA (CVERDEC1 PE), a unit of Freeport-McMoRan Copper & Gold Inc., fell 3.4 percent to $34.40 after a union official said the mine exhausted ore stockpiles because of a 22-day strike.

--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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