Bloomberg News

Credicorp Gains Most in Two Months on Profit Bets: Lima Mover

February 02, 2012

Feb. 1 (Bloomberg) -- Credicorp Ltd. rose the most in two months as investors bet that Peru’s largest financial-services provider will report profit that beats analysts’ estimates.

Credicorp climbed 3 percent to $117.06 at 2:20 p.m. in Lima and gained as much as 4.5 percent, the steepest intraday rise since Nov. 30.

“It’s speculation the company’s going to post better results than people were expecting,” said Leoncio Altamirano, a trader at Lima-based brokerage Juan Magot y Asociados SAB. “Peru hasn’t really felt the effects of the global crisis. The shares probably will keep gaining to about $120.”

Credicorp probably had fourth-quarter profit per share excluding items of $2.11, up from $1.65 a year earlier, according to the average estimate of six analysts in a Bloomberg survey. Results are scheduled for release tomorrow.

--Editors: James Attwood, 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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