Lto Lima Stock Exchange (BVL) gained for the third consecutive session and closed with the main indices higher. Thus, the S&P Peru General advanced 4.54% (23,474.03 integers), the best daily growth since July of last year; while the S&P Peru Select, made up of the 15 most traded shares in the local market, it closed at 4.31% and was placed at 623.51 units.
The capital park won thanks to the good performance in the finance (7.06%), mining (3.74%), industrial (3.61%), construction (2.86%) and consumption (1.45%) sectors. ; while the losers of the day were the subcategories of services and electricity; both with -0.72%.
The best quoted shares were those of Credicorp, with 7.77%; Volcal Mining Company 7.46%; Intercorp (5.51%), Minsur (5.04%), Andean Union of Cement (5.65%). On the negative side, Consrocio Cementero Sur fell -6.76%, Enel lost 1.94% and Rimac Seguros fell -1.12%.
Likewise, the BVL was consolidated as the one with the best performance in America, followed by the Chilean stock market, with 2.43%; the Mexican stock market, with 1.97%; the New York park, with 1.06%; the Canadian stock market (0.71%); the Brazilian stock market, with 0.22% and the Colombian stock market, which scored -0.64%.
According to Renta 4, today two events pushed the Peruvian stock market over its peers.
The first, the sale of Yanacocha by Buenaventura and the results of Credicorp. Buenaventura secured the sale of Yanacocha and Yanacocha Sulphides together for approximately US$400 million to Newmont, this on the estimated market value of the mine, which will allow the gold mine to improve its credit ratios in the short and medium term.
“Sulfides required an approximate Capex of US$ 500 million, which BVN would evaluate in the second half of the year, it also received Newmont’s participation in the La Zanja mine and US$ 45 million for its closure plan, it would be closing this year unless further exploration extends the life of the mine. Buenaventura had been hit by the paralysis of Uchucchacua, part of the amount of the sale would also serve to optimize this silver mine in the face of its reopening, “said Carlos Palma, Fixed Income Manager of Renta4.
The second piece of news was regarding Credicorp’s results, which exceeded all projections. Reported Net Income for the 4th quarter of 20921 was USD 276 million higher than the USD 260 million forecast by the market.
“Revenues in the insurance sector reached pre-pandemic levels, thanks to the economic recovery, fee income increased 5% quarterly. Higher operating costs were observed, which were partly offset by lower provision expenses, this together with the growth of the loan portfolio at 9% per year also highlight economic growth”, the expert said.
In this way, the increase in foreign investment and better local retail performance benefited these two companies and pushed the market up.
Source: Larepublica
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