Bloomberg News

Peru Stocks: Buenaventura, Volcan Fall; Credicorp Gains

December 01, 2011

Dec. 1 (Bloomberg) -- The following companies had unusual price changes in Peru trading. Stock symbols are in parentheses and share prices are as of the close of trading.

The Lima General Index fell 0.5 percent to 19,814.40. The MSCI All Peru Capped Index eased 0.4 percent to 2,561.02.

Mining companies declined as copper and zinc prices dropped on concern that demand will slow after manufacturing shrank in China, the world’s top consumer of industrial metals.

Volcan Cia. Minera SAA (VOLCABC1 PE), Peru’s largest zinc producer, fell the most in two months, retreating 3.7 percent to 3.12 soles. Alturas Minerals Corp. (ALT PE), a Canadian copper exploration company, dropped 10 percent to 9 cents.

Gold companies fell as the precious metal declined in New York.

Cia. de Minas Buenaventura SAA (BVN PE), the country’s biggest precious-metals miner, fell 2.9 percent to $38.25, a six-week low. Rio Alto Mining Ltd. (RIO PE), a Canadian gold exploration company, eased 3.1 percent to $3.39.

Credicorp Ltd. (BAP PE), Peru’s largest financial-services company, rose 2.5 percent to a one-month high of $110.68. The company’s Banco de Credito del Peru unit agreed to buy a 51 percent stake in Colombia’s Correval to expand its brokerage and corporate finance business.

--Editor: Glenn J. Kalinoski

To contact the reporter on this story: John Quigley in Lima at jquigley8@bloomberg.net

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


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