Bloomberg News

Chilean Stocks: La Polar, Parque Arauco, Sonda and Vapores Gain

October 19, 2011

Oct. 19 (Bloomberg) -- The following companies had unusual price changes in Chilean trading. Stock symbols are in parentheses and prices are as of the close in Santiago.

The Ipsa index rose 0.9 percent to 4,088.99. The MSCI Chile index gained 1.4 percent to 2,273.02.

Cia. Sudamericana de Vapores SA (VAPORES CC) rose 0.5 percent to 131.84 pesos. Latin America’s largest container shipping company announced plans to reduce its workforce by 18 percent.

Empresas La Polar SA (LAPOLAR CC) gained 3.6 percent to 412.14 pesos. The department-store operator has called a meeting with creditors for Nov. 7 to vote on a preventive judicial agreement to avoid its second bankruptcy in 12 years, according to a paid advertisement published today in newspaper Diario Financiero.

Parque Arauco SA (PARAUCO CC) rose 3.7 percent to 890.11 pesos, the biggest increase in 10 weeks. The shopping center developer advanced after the the biggest two-day drop in a month on optimism about its management succession plan, Rodrigo Ordonez, an analyst at the brokerage unit of Banco Santander SA, said in a phone interview today.

Sonda SA (SONDA CC) increased 1.7 percent to 1,180 pesos, its third day of gains and its highest price in three weeks. Chile’s largest information technology company was added to lender Banco de Credito & Inversiones’ top five list of favorite Chilean stocks. The company is scheduled to report third-quarter results Oct. 26.

--Editors: Brendan Walsh, Marie-France Han

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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