"The new president is likely to end up opting for policy prudence," says Credit Suisse, joining Nomura in calling the selloff in Peru a buying opportunity. Shares are bouncing following yesterday's drubbing. EPU +3.0%, BAP +6.2%, BVN +1.4%, SCCO +1.0%.
"Those speculating now are simply going to lose their money because (everything) is very solid, everything has a good outlook," says Kurt Burneo, a former Peruvian central bank official and adviser to Ollanta Humala. EPU -11.1%, BVN -10.1%, BAP -13.3%, SCCO -8.3%.
The Peru ETF (EPU -9.5%) is diving following Ollanta Humala's victory in that country's presidential campaign. Credicorp (BAP -10.3%), the nation's largest banking institution, is following suit, as is Southern Copper (SCCO -8.5%), which has its major interests in Peru.
Credicorp Ltd through its banking and non-banking subsidiaries, provides financial and health services and products. It operates in four segments namely Banking, Insurance, Pension fund and Investment banking.