Bloomberg News

Chilean Stocks: Cap, Corpbanca, La Polar and Paz Corp Gain

October 12, 2011

Oct. 12 (Bloomberg) -- The following companies had unusual price changes in Chilean trading. Stock symbols are in parentheses and prices are as of 4:21 p.m. in Santiago.

The Ipsa index rose 1.7 percent to 4,005.89. The MSCI Chile index gained 3.3 percent to 2,253.08.

Cap SA (CAP CC), Chile’s largest steel producer and iron miner, increased 4.3 percent to 17,075 pesos for its fifth straight day of gains. Shares advanced in line with global base metal prices, which jumped on signs of steady demand for metals from Asia.

Corpbanca (CORPBANC CC), Chile’s sixth-largest lender by assets, advanced 1.1 percent to 6.745 pesos, its highest price in four weeks. Corpgroup Banking SA, the holding company of local businessman Alvaro Saieh and Corpbanca’s controller, is in talks to acquire Colombian brokerage firm Correval SA, Diario Financiero wrote.

Empresas La Polar SA (LAPOLAR CC) advanced 3.6 percent to 379.8 pesos. The Chilean department store operator announced the opening today of its third store in Colombia and plans to open a fourth store in November.

Paz Corp SA (PAZ CC) jumped 18 percent to 239.26 pesos, a record gain. The country’s second-largest publicly traded home builder by sales has gained 33 percent in the last two days after its valuations reached two-year lows on Oct. 7.

--Editors: Richard Richtmyer, Glenn J. Kalinoski

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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