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Wednesday, 21 March 2012

Peru's Main Stock Indexes End Lower; Sol Unchanged

Peru's main stock market indexes ended lower Tuesday as weakness on Wall Street and a decline in mineral prices dragged down a number of blue-chip shares.

The Lima Stock Exchange's broad General Index closed 0.81% lower at 22,893.33.

The blue-chip Selective Index ended 0.85% lower at 31,878.65.

Base metals miner Southern Copper Corp. (SCCO) decreased 3.80% to end at $31.10, on a decline in copper prices. Copper miner Sociedad Minera Cerro Verde SAA (CVERDEC1.VL) lost 1.01% at end at $39.20.

Tin miner Minsur SA (MINSURI1.VL) fell 0.33% to end at 3.05 soles, ($1.14) on weakness in tin prices.

Financial holding company Credicorp Ltd. (BAP, BAP.VL) lost 1.18% to end at $126.00. It owns Peru's largest bank, Banco de Credito.

The Central Reserve Bank of Peru intervened in the foreign-exchange market Tuesday to buy $82 million at an average of PEN2.671 a U.S. dollar.

The central bank intervenes to smooth out volatility in the exchange market. So far this year, the central bank has intervened to purchase about $5.0 billion.

Meanwhile, the sol closed unchanged at PEN2.672 a dollar. So far this year, the sol has appreciated 0.93% against the dollar.

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