Tuesday, August 2, 2011

Peru Stocks Buenaventura, Cerro Verde, Panoro, Southern Copper

Foreign Minister Rafael Roncagliolo said Monday that the Peruvian government will honor its commitment to develop a "multilateral foreign policy," on the basis of consultation and regional integration.
Roncagliolo said this issue will be one of the priorities in the Ministry's international activity, seeking to achieve consensus and open dialogue with the countries of the region.

Roncagliolo added that "there will be changes and new emphasis" on the foreign policy, outlined by the government and the address to the nation of President Ollanta Humala.

He pointed out that a major goal in his new position will be to strengthen integration within the Union of South American Nations (UNASUR) and the Andean Community of Nations.

In this regard, he emphasized that the UNASUR and CAN summits held in Lima on the ocassion of President Humala's inauguration "allowed to focus on the Andean integration and the fight against inequality.

The Lima General Index was little changed at 21,959.67. The MSCI All Peru Capped Index fell 0.4 percent to 2,722.20.
Miners and industrial stocks declined after U.S. shares and metals slumped in New York, Jose Luis Bustamante, head of trading at Cartisa SAB, said in a telephone interview.
Southern Copper Corp. (SCCO) , Peru’s biggest copper producer, fell 3.7 percent to $34.30 Panoro Minerals Ltd. (PML) , a Canadian copper and gold exploration company, dropped 3.5 percent to 55 cents. Sociedad Minera Cerro Verde SA (CVERDEC1 PE), a unit of Freeport-McMoRan Copper & Gold Inc., slid 1.4 percent to $43.80. Cia. de Minas Buenaventura SAA (BVN PE), the country’s biggest precious-metals miner, fell 1.3 percent to $40.70.
Casa Grande (CASAGRC1 PE), Peru’s largest sugar producer and a unit of Gloria SA, declined 1.2 percent to 16.40 soles after futures fell for a third day in New York.

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