Bloomberg News

Chilean Stocks: Cruz Blanca, Empresas La Polar, Lan Airlines

September 29, 2011

Sept. 29 (Bloomberg) -- The following companies had unusual price changes in Chilean trading. Stock symbols are in parentheses and prices are as of 3:18 p.m. New York time.

The Ipsa index closed little changed at 3,901.13. The MSCI Chile index declined 1.4 percent to 2,139.71.

Cruz Blanca Salud SA (CRUZBLAN CC) advanced 4.4 percent to 470 pesos. The health services provider was rated “buy” in new coverage at Bice Inversiones. The shares may reach 645 pesos by the end of next year, Bice analysts wrote in an e-mailed note.

Empresas La Polar SA (LAPOLAR CC) surged 14 percent, the most in three months, to 393.88 pesos. The department-store operator seeking to avert a second bankruptcy in 12 years is attracting the interest of prospective local and foreign “strategic” investors, Santiago-based newspaper Diario Financiero reported, citing people familiar with the company’s restructuring process who it didn’t identify.

Lan Airlines SA (LAN CC) slumped 4.5 percent, the biggest decline on the Ipsa index, to 11,249 pesos. Latin America’s largest carrier has lost 7 percent in the two trading days since saying it would seek a review of data used by antitrust regulators to set conditions for the carrier’s takeover of Tam SA.

--Editors: Glenn Kalinoski, Brendan Walsh

To contact the reporter on this story: James Attwood in Santiago at Jattwood3@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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