Bloomberg News

Chilean Stocks: Cap, Iansa, Lan Airlines, Paz and Socovesa

October 27, 2011

Oct. 27 (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 3.6 percent to 4,316.82. The MSCI Chile index gained 5.2 percent to 2,466.15.

Cap SA (CAP CC) rose 5.2 percent to 18,983 pesos, its highest price in seven weeks. Chile’s largest iron miner and steel producer gained in line with the price of base metals after European leaders agreed on a plan to ease the region’s sovereign-debt crisis, easing concern demand may wane.

Empresas Iansa SA (IANSA CC) jumped 8 percent to 43.75 pesos, the steepest increase in 11 weeks. Chile’s largest sugar producer posted net income of $18.3 million in the first nine months of the year, a 10 percent increase from $16.7 million a year earlier.

Lan Airlines SA (LAN CC) increased 5.8 percent to 12,653 pesos. Latin America’s largest airline by market value was the most active stock today in Santiago with 21.2 billion pesos ($43 million) changing hands. The stock rose for a second day after it reported Oct. 25 higher-than-expected quarterly earnings and said rival Pal Airlines halted efforts to block its takeover of Brazil’s Tam SA.

Socovesa SA (SOCOVESA CC), Chile’s largest listed home- builder by market value, advanced 7.5 percent to 239.83 pesos, the steepest gain since March 2010. Homebuilders rose today after the European agreement.

Paz Corp SA (PAZ CC), Chile’s third-largest home builder by market value, gained 5 percent to 312.57 pesos.

--Editors: Glenn J. Kalinoski, 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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