Peru’s Presidential Runoff Between Fujimori, Castillo Too Close to Call

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  • Bloomberg Quicktake: Now published this video item, entitled “Peru’s Presidential Runoff Between Fujimori, Castillo Too Close to Call” – below is their description.

    Peru’s currency and stocks tumbled after incomplete results of Sunday’s presidential runoff showed the leftist candidate gaining momentum even as he trailed by a thin margin in the count.

    The sol headed to its biggest drop in more than a decade at one point and the S&P/BVL Peru General Index fell as much as 6.8%, the most since November, with mining companies and financial firms among the hardest hit. Overseas bonds edged lower in light trading while the cost to insure against a default climbed.

    Analysts were left to scour incomplete vote tallies for hints at who had the advantage, after investor favorite Keiko Fujimori saw her early lead over leftist opponent Pedro Castillo fade overnight and in the early morning. With almost 93% of votes counted, Fujimori had 50.1% support to 49.9% for Castillo, a former school teacher turned union organizer from the Peruvian highlands.

    “The country is pretty much split down the middle,” said Alfredo Torres, director of Ipsos Peru. An unofficial quick count published earlier by Ipsos gave Castillo a 0.4 percentage point advantage over Fujimori, within the margin of error, while an Ipsos exit poll after Sunday’s voting showed Fujimori with a slight lead.

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    In This Story: Peru

    Peru is a country in South America that’s home to a section of Amazon rainforest and Machu Picchu, an ancient Incan city high in the Andes mountains. The region around Machu Picchu, including the Sacred Valley, Inca Trail and colonial city of Cusco, is rich in archaeological sites. On Peru’s arid Pacific coast is Lima, the capital, with a preserved colonial center and important collections of pre-Columbian art. 

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    S&P Global that publishes financial research and analysis on stocks, bonds, and commodities. One division of the business, S&P Global Ratings, is considered the largest of the Big Three credit-rating agencies, which also include Moody’s Investors Service and Fitch Ratings.

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