Overview
- The presidential runoff remains effectively tied with leads shifting between Roberto Sánchez and Keiko Fujimori while votes from remote regions and abroad are still being counted.
- Markets opened lower after the vote but reversed losses by the close, with the sol strengthening roughly 1.15% and the Lima benchmark rising about 1.1% on Tuesday’s session.
- Early losses hit major names: Intercorp fell about 2.8%, Credicorp about 4.8%, Buenaventura about 3%, and the iShares MSCI Peru ETF dropped near 1.4% before the intraday rebound.
- Analysts say Peru’s shallow market and its heavy weight in financial and mining stocks—about 70% of the index—amplify political shocks, while rising copper (near 0.9%) and central bank dollar sales helped stabilize prices.
- Prolonged uncertainty from the unfinished count could sustain volatility, complicate investment decisions and raise near‑term risk for Peruvian assets given the country’s recent history of political turnover.