Peru: Morning News Roundup – Wednesday, June 13

Morning News RoundupLima Stock Exchange (BVL) Recap

(LIP-jl) — Lima’s stock exchange (Bolsa de Valores – BVL) closed yesterday’s market with the slimmest of losses. The BVL closed Tuesday’s trading session at 21,054 points, a decrease of 0.03% from Monday’s close. The Selective Index -ISEL (index that groups the 15 leading stocks), closed at 36.921 units, an increase of 0.08%. Some of yesterday’s most active stocks included: Banco Financiero comunes (+4.76%), Minera Andina de Exploraciones comunes (+2.44%), Minera Cerro Verde comunes (+2.44%), Filamentos Industriales de inversión (-13.04%), and Agroindustrial Pucalá comunes (-6.0%).

Peru president to meet Chile head

Chile´s President Michelle Bachelet and Peru´s Alan Garcia will meet on Wednesday during a summit of the Community of Andean Nations (CAN) in Tarija, Bolivia, the Peruvian president confirmed on Tuesday. The head of State refused to reveal the issues to be analyzed with his Chilean peer, and only said it would be "a clear dialogue, as usual." The local expectations are that the bilateral summit will seek to ease a tense diplomatic confrontation about a bilateral border conflict. Garcia held that it is "opportunistic, irresponsible, and demagogic" the position of some, in reference to opposition leader Ollanta Humala´s proposal of freezing an economic complementation agreement with Chile until the differences are resolved. After rejecting that statement, he asserted that his government is firmly facing up to the issue, but with serenity, without adjectives, and that "it is necessary to give a proof of great responsibility." He said to be sure the International Court of Justice in The Hague, the arbitration of which he will request to solve the conflict, will prove he is legally right. (Prensa Latina)

New charge in Fujimori extradition record

Chilean Prosecutor Monica Maldonado recommended the extradition of former Peruvian President Alberto Fujimori (1990-2000) on the new charge of usurpation of functions, judicial sources said on Tuesday. According to a communiqué from the Supreme Court of Justice, in the additional report on Fujimori, Maldonado pointed out that the new crime must be added to the ex Peruvian president’s record. The Prosecutor’s Office had acknowledged that Fujimori had committed several crimes, including misappropriation of public funds, bribe, murders and the homicides of 15 Peruvian citizens. The report says that during his government, Fujimori instructed the Interior minister and an official to pose as representatives of the Prosecutor’s Office to raid the home of a close collaborator who was holding evidence on the then president’s involvement in acts of corruption. (Prensa Latina)

Charges against Peru’s Fujimori expanded in Chile

Chilean prosecutors have expanded the charges against former Peruvian president Alberto Fujimori, who is accused of widespread human rights violations during his time in power and is awaiting extradition back to Peru. Fujimori, who ruled Chile between 1990 and 2000, already faces extradition on 11 charges of corruption and human rights, including 25 murders. Chilean public prosecutor Monica Maldonado revealed Tuesday that a charge of usurpation of powers was added as a bases to justify a possible extradition. Maldonado’s recommendation is not binding, but it will be the basis for judge Orlando Alvarez to make his ruling over the coming weeks. That decision, in turn, is subject to appeal before the Chilean Supreme Court. The public prosecutor sent her latest report to the judge on Monday, but it was only revealed known Tuesday. Fujimori, 68, is one step away from extradition following a report filed by Maldonado last week. The original recommendations that the former president be extradited to Peru prompted him to be placed under house arrest, to keep him from fleeing. (Earthtimes)

Copeinca goes fishing in local waters

Lima-based fishery Copeinca, which listed its shares on the Oslo stock exchange last December, has acquired local rival Pesquera Industrial El Angel (Piangesa) for $111.5m. Following the acquisition, Copeinca will have a total of 12 processing plants and will consolidate its position as one of the leading fish-oil producers in Peru, according to the company. SEB Enskilda and Glitnir Securities advised Copeinca. (Latin Finance)