Mario Brescia Cafferata, who with his older brother Pedro built the family business into one of Peru’s largest conglomerates and the country’s second-largest lender, has died, El Comercio reported. He was 83.
The following companies had unusual price changes in Peru trading. Stock symbols are in parentheses and share prices are as of the close of trading in Lima.
Covanta Holding Corp. , the developer of waste-to-energy plants, is marketing debt after high-yield, high-risk company borrowing costs fell to the lowest in more than five years.
As metal prices plunged on the eve of the financial crisis in September 2008, Peru’s billionaire Brescia family paid about $400 million to buy the world’s largest tin deposit in the Amazon jungle.
Peru’s central bank kept borrowing costs unchanged after cutting reserve requirements for a sixth time in seven months to fuel a rebound in growth.
Peru’s economy grew at the slowest pace in a year in the first quarter as falling copper prices caused exports and private investment to ease in the world’s third largest producer of the metal.
Peru’s economic growth rebounded in the fourth quarter as improved consumer and business sentiment spurred domestic demand and new copper mines boosted output.
Peru’s bonds rose, pushing yields down the most in seven months, on demand from local investors who didn’t participate in the government’s biggest issuance of local debt since 2010.