BBVA Banco Continental News
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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.
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Peru’s economy slowed more than analysts expected in March as weaker global growth reduces demand for the country’s metal and manufacturing exports.
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Peru’s central bank kept borrowing costs unchanged for a 24th straight month as policy makers expect inflation to converge to the mid-point of their target amid near-potential economic growth.
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Wall Street’s biggest banks are turning Peru into the fastest-growing corporate bond market in Latin America as they capitalize on debt investors seeking to profit from the nation’s economic boom.
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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.
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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.
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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.
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Peru’s sol advanced the most in a week as companies exchanged dollars to pay taxes even as the central bank intervened to slow the local currency’s gains.
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Peru’s sol closed at its weakest level in three months after dollar purchases by the central bank and pension funds diminished local supply of the greenback.
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Peru’s sol-denominated bonds registered their biggest weekly gain since September as bets foreign investment will spur gains in the currency boosted demand for the securities.
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