Peru: Alan Garcia claimed victory as Peru's next president with 77% of votes counted and 55% in favor of Alan Garcia and vowed to increase trade ties with the U.S. and challenge Venezuelan President Hugo Chavez's efforts to expand his influence in Latin America.
One stock that will benefit from this is SOUTHERN COPPER CORP (NYSE:PCU). The stock has come under pressure partly due to the threat of a nationalist running who would have taxed Southern Copper's revenue at 3%.
Now that the threat is gone, it presents an opportunity since the stock is almost unchanged today. With over a 10% dividend yield, P/E of 8 and PEG of 0.38, this is cheap stock for income, value or growth investors. With something for everyone, investors from various persuasions can come together and sing kumbaya on this one.
DISCLOSURE: I maybe long the stocks mentioned above for myself and clients. Not a recommendation to buy or sell any security. For informational and educational purposes only.