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ADR Report-Peru ADRs fall as presidential race fears rise
April 14, 2011 / 6:59 PM / in 7 years

ADR Report-Peru ADRs fall as presidential race fears rise

NEW YORK, April 14 (Reuters) - U.S.-listed shares of Peruvian companies declined as worries escalated about policy changes that could occur after the country’s presidential election.

Shares of Peru’s Creditcorp (BAP.N) were down 2.8 percent at $94.23 in New York, while an exchange-traded fund, iShares MSCI All Peru Capped Index Fund (EPU.P), was down 1.9 percent at $39.32.

Peruvian miner Buenaventura (BVN.N) was down 0.5 percent at $38.64.

Peruvian stocks have tumbled this week amid worries about how Nationalist presidential candidate Ollanta Humala will manage the country’s economy, despite his camp’s pledge not to follow in the path of left-wing leaders in Venezuela and Bolivia.

Humala said he will increase mining royalties if elected. He won the first round of Peru’s presidential election and now faces off with right-wing candidate Keiko Fujimori in a June 5 run-off.

Peru is the leading silver producer and produces other metals including copper.

Receipts with the BNY Mellon index of leading Latin American ADRs .BKLA were down 0.2 percent, leading ADR losses, while Peru’s benchmark stock index .IGRA fell 2 percent.

Among other miners, shares of global miner BHP Billiton (BHP.N) were down 0.1 percent at $100.13. Copper prices fell to their lowest in more than a week on Thursday.

The BNY Mellon index of leading American Depositary Receipts (ADRs) .BKADR was down 0.07 percent, while the U.S. benchmark S&P 500 index .SPX was down 0.1 percent.

The BNY Mellon index of leading Asian ADRs .BKAS was flat while the BNY Mellon index of leading European ADRs .BKEUR was down 0.09 percent.

Reporting by Caroline Valetkevitch

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