Bloomberg News

Chilean Stocks: Cap, Colbun and La Polar Retreat; Vapores Gains

October 03, 2011

Oct. 3 (Bloomberg) -- The following companies had unusual price changes in Chilean trading. Stock symbols are in parentheses and prices are as of 3:15 p.m. New York time.

The Ipsa index fell 3.2 percent to 3,763.91. The MSCI Chile index retreated 4 percent to 2,022.23.

Cap SA (CAP CC) declined 4.5 percent to 15,241 pesos, its lowest price since March 2010. Chile’s largest iron miner and steel producer dropped in line with base metal prices, which fell on concern metals demand will wane as economies slow.

Cia. Sudamericana de Vapores SA (VAPORES CC) advanced 1.6 percent to 118.19, ending a three-day losing streak. Latin America’s largest container shipping company received the second of seven container ships it ordered from Samsung Heavy Industries Co. Ltd., El Mercurio reported.

Colbun SA (COLBUN CC) sank 2.5 percent to 126.53 pesos. Chile’s third-largest power producer had its recommendation cut to “hold” from “buy” at Banco Santander, which cited lower- than-expected earnings in the first half of the year and a delay in the startup of its Angostura power project.

Empresas La Polar SA (LAPOLAR CC) dropped 6.5 percent to 400 pesos, the steepest decline in eight weeks. The Chilean department-store operator hasn’t made contact with prospective investors, according to a filing posted on the website of Chile’s securities regulator after the close of trading Sept. 30.

--Editors: Richard Richtmyer, Brendan Walsh

To contact the reporter on this story: Eduardo Thomson in Santiago at ethomson1@bloomberg.net

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


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