Peru Stocks Surge After Humala Says Central Bank Chief to Stay

Peru’s benchmark stock index surged after President-elect Ollanta Humala said Central Bank President Julio Velarde will remain in his post, signaling that policies that spurred the region’s fastest economic growth in the last decade will continue.

The Lima General Index rose 4.6 percent to 21,284.74, the biggest one-day gain since June 7. It was the biggest gainer among 91 equity indexes tracked by Bloomberg. The gauge was led by Canadian gold and copper exploration company Alturas Minerals Corp. and Caterpillar Inc. distributor Ferreyros SA. Velarde will serve another five-year term to help ensure economic stability, Humala said yesterday.