Bloomberg News

Chilean Stocks: Banco Santander Chile, Chilectra, Lan Airlines

October 26, 2011

Oct. 26 (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 0.7 percent to 4,167.31. The MSCI Chile index rose 1.3 percent to 2,344.59.

Banco Santander Chile (BSAN CC) fell 0.7 percent to 37.76 pesos. The country’s largest lender has fallen 1.9 percent in the last two days after JPMorgan Chase & Co cut its rating to “underweight.”

Chilectra SA (CHILECTR CC) jumped a record 14 percent to 1,200 pesos, its highest price since May 24. The Chilean power distributor increased its dividend payments to 100 percent of profits, according to a statement posted on the website of Chile’s securities regulator.

Lan Airlines SA (LAN CC) rose 2.5 percent to 11,962 pesos, the biggest increase in two weeks. Latin America’s largest airline by market value said that rival Pal Airlines has dropped its objections to its takeover of Brazil’s Tam SA. The company also posted higher-than-expected net income in the third quarter.

--Editor: 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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