Bloomberg News

Chilean Stocks: Emb. Andina, Lan Airlines, Soquimich, Vapores

October 05, 2011

Oct. 5 (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 rose 2.6 percent to 3,698.75, ending a five- day losing streak. The MSCI Chile index gained 3 percent to 1,960.62.

Cia. Sud Americana de Vapores SA (VAPORES CC) fell 3.8 percent to 120.99 pesos, the steepest decline in more than a week. Shareholders of Latin America’s largest container shipping company approved today the sale of $1.2 billion in new shares.

Embotelladora Andina SA (ANDINAB CC) rose 1 percent to 2,120 pesos. Chile’s largest Coca-Cola bottler posted preliminary volumes of 116 million cases in the third quarter, up from 109 million cases in the same period of 2010, according to an e-mailed statement.

Lan Airlines SA (LAN CC) rose 6.9 percent to 10,751 pesos, its steepest gain in more than a year. Latin America’s largest airline by market value rebounded after it had been “overly punished” on concern about a possible delay in its $2.7 billion takeover of Brazil’s Tam SA as well as speculation about a possible bankruptcy for American Airlines parent AMR Corp., German Guerrero, a partner at Santiago-based brokerage firm MBI Servicios Financieros, said in a phone interview.

Soc. Quimica & Minera de Chile SA (SQM/B CC) gained 6 percent to 24,901 pesos, after five days of losses. Chile’s largest fertilizer producer rose in line with other international fertilizer producers and after Santiago-based brokerage firm IM Trust SA Corredores de Bolsa rated the company a “buy.”

--Editors: Brendan Walsh, Richard Richtmyer

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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