Graña and Montero group shares generated falls during the market session this week

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Graña and Montero group shares generated falls during the market session this week

Graña y Montero Group

Graña y Montero Group

The Lima Stock Exchange, Perú (BVL), received a negotiation with many ups and downs in the assets of the equities of the Peruvian group. The value fell back, right in the middle of the operations, up to the $/2.50, while the last week had closed in S/.2.90. However, advanced by purchases of opportunity ending the trading session in $/2.65.

Thus, the value of the equity of the group of entrepreneurs was contracted by 8.62% between last Friday and yesterday. According to the statements of Jasmine Halme, who is the analyst of the Credicorp Capital, is very reasonable that there is a fall that is associated with the feelings, then that the action was driven by the feelings too.

However, during the analysis of the merits, it can still perceive, as explained by specialists, about the company in the Andean Country the ghost of its associated in the past, the Brazilian Odebrecht, continues to floating.

Brazilian Firm

While the Brazilian firm faces charges of corruption, bribery and embezzlement, not only in Peru but throughout the region. According to what one analyst from a Stock market house in Lima, Peru said, the Graña y Montero share fell 8.6% due to investors, which can be the institutions and not institutions sold its shares stock to recover the proceeds of previous days and weeks; when the paper had low prices.

But in addition, the issue of Odebrecht is still very present, because the title and its Price had responded and reacted to the Regional Governor of El Callao imprisonment, Felix Moreno, who is accused of receiving bribery from Odebrecht for the regional government allows granting the work of the Green Coast, which would unite the Callao with modern Lima.

The decrease of the share prices could be directly related to the concern over the links that have the company Odebrecht, after the last arrest that was made by the prosecutors who investigate the Brazilian company.

Moreno Arrest

The (Félix) Moreno’s arrest was made last week, but only he was sentenced to 18 months in prison custody just last Saturday March 8th at night, after a marathon session for the day that began in the midafternoon.

Félix Moreno

Félix Moreno, who is now in prison

However, Graña y Montero was not part of Costa Verde road Project, but it was associated with Odebrecht in infrastructure projects in Peru, like the line 1 of the Lima Metro.

According to the other experts who have spoken on this topic, this could increase the risk of generating some volatility in the price of the Peruvian group paper. On the edge of the New York Stock Exchange, the ADR of Graña y Montero fell 22% Reached in this way; $ 3.7 dollars for each share, its fall can be much deeper after six weeks from February 27th.

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