Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. France
  4. Euronext Paris
  5. Ipsos
  6. News
  7. Summary
    IPS   FR0000073298

IPSOS

(IPS)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Ipsos : Peru election front-runner vows to spread mining wealth, cut natgas prices

03/16/2021 | 04:00am EDT

LIMA, March 16 (Reuters) - Peru's populist presidential front-runner Yonhy Lescano plans to renegotiate a fairer distribution of mining wealth if elected to lead the world's No. 2 copper producer and also allow imports of cheaper natural gas, he told Reuters less than a month before an April ballot.

Lescano, 62, a former lawmaker and leader of the Popular Action party, has emerged as the favorite in polls heading toward the April 11 first round vote. He will very likely face a second round run-off in June.

In an interview at his home in Surco, a quiet residential district of the capital Lima, the lawyer said the contrast between the Andean country's booming mining sector and relatively poor populace was "a terrible contradiction."

"That wealth is not even reaching the inhabitants who are next to the mining sites, something is wrong here, we must correct that," Lescano said.

Copper, silver and gold mined from Peru's highlands and lowland Amazon represent 60% of its exports and are vital to the economy. But protests are mounting as citizens demand greater benefits and tighter controls to ensure environmental and social sustainability.

Mineral-rich Peru boasts a $56 billion waiting list of new mine projects at a time of soaring prices for copper and other metals. Lescano said this leaves room for negotiation to ensure more profits stay in Peru.

"We are not going to make order by supreme decree or by law, but rather we will sit at a table and renegotiate," he said.

POLITICAL POPULIST

Lescano, a populist who has risen quickly through the polls in the past month, is a father of three originally from Puno, an Andean city on the shores of the high-altitude Lake Titicaca.

He is favored in southern Peru, a region that historically leans left, but also by older, more conservative Peruvians.

Several of his policies are aimed at lowering costs for the country's poor and middle class citizens, who have been particularly hard-hit by the coronavirus crisis.

Lescano told Reuters he hopes to lower the cost of natural gas - which accounts for nearly half of country's energy supply - by ratcheting up competition and allowing gas imports. He said he would support the construction of a gas pipeline between Bolivia and Peru.

"If you allow Bolivian gas (into Peru), prices will fall, because Bolivia has much cheaper gas," he said.

The candidate said he would also improve access to credit by forcing private banks to reduce "abusive" interest rates and that he could encourage Peru's state Banco de la Nacion to enter the market and compete with private lenders.

Lescano holds conservative views on some social issues, including being opposed to abortion, same-sex marriage and education in schools around gender identity.

He said he would tackle rampant corruption that has seen five former presidents probed or prosecuted for corruption in just over two decades, by banning officials who accept bribes to ever work for the state, a punishment he called "civil death".

Lescano explained his political ideology was governed by three rules inherited from the Inca Empire that dominated the country prior to the arrival of Europeans: "Ama sua", "Ama Llulla" and "Ama Quella", Quechua phrases that mean "don't be a thief", "don't be a liar" and "don't be lazy". (Reporting by Marco Aquino, writing by Dave Sherwood; Editing by Adam Jourdan and David Gregorio)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
IPSOS 0.29% 34.3 Real-time Quote.24.28%
SILVER -0.03% 27.88 Delayed Quote.6.14%
All news about IPSOS
06/08Peru's Leftist Candidate Leads Tight Presidential Vote
DJ
06/07Fujimori in lead in first official Peruvian presidential vote results
RE
06/06SOCIALIST CASTILLO LEADS PERUVIAN PR : Ipsos peru
RE
06/06FUJIMORI HAS 50.3% AND CASTILLO HAS : +/-3% error margin - peru ipsos exit poll
RE
06/06Conservative keiko fujimori leads socalist pedro castillo in peru presidentia..
RE
05/31India's Covid-19 Surge to Hamper Economic Recovery
DJ
05/27PRESS RELEASE : ABOUT YOU Holding AG: ABOUT YOU -3-
DJ
05/17SURVEY : Generation Z and Millennials Lead the Way as Financial Progress, Securi..
AQ
05/17BMO SURVEY : Canadians Lag Americans on Perceptions of Financial Progress but St..
AQ
05/11UBS Notes Peru's Second Round Presidential Race Tightens
MT
More news
Financials
Sales 2021 2 009 M 2 433 M 2 433 M
Net income 2021 136 M 165 M 165 M
Net Debt 2021 434 M 526 M 526 M
P/E ratio 2021 11,2x
Yield 2021 2,90%
Capitalization 1 511 M 1 828 M 1 830 M
EV / Sales 2021 0,97x
EV / Sales 2022 0,89x
Nbr of Employees 17 640
Free-Float 84,9%
Chart IPSOS
Duration : Period :
Ipsos Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends IPSOS
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 7
Average target price 40,29 €
Last Close Price 34,30 €
Spread / Highest target 22,4%
Spread / Average Target 17,5%
Spread / Lowest Target 10,8%
EPS Revisions
Managers and Directors
NameTitle
Didier Michel Truchot Chairman, President & Chief Executive Officer
Laurence Stoclet Chief Financial Officer, Director & Deputy CEO
Neville Rademeyer Global Chief Information Officer
Patrick Artus Independent Director
Dupont-Madinier Mary Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
IPSOS24.28%1 828
OMNICOM GROUP INC.34.38%18 026
WPP PLC24.43%16 795
PUBLICIS GROUPE SA37.14%16 617
THE INTERPUBLIC GROUP OF COMPANIES, INC.45.24%13 438
WEIBO CORPORATION18.79%11 094