Lima, Peru - to the Peru, the Colombia and the Chile will be officially merge their stock markets Monday, creating the second award in Latin America after the Brazil and promising increase liquidity in the Andean region rich in minerals.
The alliance of the three nations market right covering the major part of the Pacific coast of South America give investors better exposure to the property related to natural resources of the region and its rising middle class. And coupled with their plans recently announced with the Mexico to form an economic bloc known as the field of comprehensive integration, the merger of the stock markets creates a political foil for the Alliance Bolivarian of the Governments of regional left led by Venezuelan President Hugo Chávez.
"There is a distinct difference in the Organization of policy in this group of countries" said analyst economic Sebastian Guevara de Apoyo Consultaría, a research company based in Lima. "There is a conscious effort to encourage integration among these like-minded countries."
Particular importance for the launch of the stock exchange regional, nicknamed PeruThe Mercado Integrado Latino Americano (MILA), has a special meaning here in the Peru, from the days ahead of a presidential election between right Keiko Fujimori leftist Ollanta Humala, who has in the past campaigned with Mr Chávez.
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Although the Lima stock exchange represents the smallest share of MILA, this nation has the potential to dictate its success in the coming months.
Victory for Mr. Humala in the election "may constitute obstacles to the merger of [the], stock market", explains Mr. Guevara, adding that the former army captain has shown hostility towards foreign investors and Government controls proposed mergers.
Concerns about the voteIndeed of the Peru, the Lima stock exchange plunged in April when Humala victory in the first ballot, but he climbed on 26 May, when firm Datum polling based in Lima showed Ms. Fujimori now leading with the support of 52.9%.
The daughter of jailed former President Alberto Fujimori is backed by a large part of the business community, recently won an endorsement big of the candidate for the presidential third place and former Finance Minister Pedro Pablo Kuczynski.
His regular rise in the polls in part reflects the desire of the nation to see a continuation of prudent fiscal policy and initiatives worked a€ "such as the launch of the MILA a€" which helped to fuel 8.8% economic growth in 2010, the highest in a region of hot savings.
Aldo Defilippi, Executive Director of the American Chamber of Commerce of the Peru, which represents local and international companies 580 with interests here, said that he has received a number of calls from investors concerned about the election.
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a general terms of greater €, companies do not have a preference for a candidate, but a preference for what each candidate needs to do, a
This should include supporting MILA, says the Defilippi, which will give Peruvian businesses a new way to raise capital by allowing the Chilean brokers and Colombians to invest directly in the stock market of Lima and vice versa, eliminating costs and circles.
Mining companies dominate all three awards, accounting for 60% of the stock exchange only Lima, analyst Hector Collantes de Apoyo.
"The MILA triggers for the market the opportunity to gain exposure of Peruvian consumption investment via these listed companies vehicles, in Bogotá and Santiago" explains Mr. Collantes. "[M] ore investors and the investment options may increase global liquidity."
On MILA, Lima Exchange is the largest number yet the smallest by market capitalization, with 83 billion spread over 248 companies at the end of April, according to the World Federation of exchanges. The Santiago Stock Exchange had 343 billion between 230 companies at the end of April, while the exchange of Colombia had 217 billion between 83 companies.
Future of MILA is?If the stock exchange 473 billion in the Mexico have been joining, MILA would exceed market capitalization of the Brazilian Stock Exchange 1.6 billion. Yet another future, say analysts, could be Brazil to purchase MILA and wrapping it in the Bolsa de Valores de S?o Paulo (Bovespa).
Guevera undertakes to MILA will provide investment opportunities over the Peru, but the fact remains that the Lima stock exchange is tiny, see a volume of daily exchanges of $30 to 40 million dollars.
Lima Exchange hope trading volume increase by 20 to 25% following the merger. "There are a lot of interest from investors Chilean and Colombian to acquire stocks of mines mining and junior traded Lima.". This will allow an increase in liquidity, "press office wrote in an e-mail message to the screen."
With the Government of the Peru stream, Guevara explained the economy here has a more immediate concerns that the launch of MILA.
"Peru has been on the friendly side of market for 10 years, but it might be a fit," he said. "" "". "I think that there is much uncertainty".
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