Bloomberg News

Chilean Stocks: Banco Santander, Copec, La Polar and Salfacorp

October 28, 2011

Oct. 28 (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 0.2 percent to 4,327.25. The MSCI Chile index gained 1 percent to 2,489.63.

Banco Santander Chile (BSAN CC) fell 2 percent to 37.91 pesos, the steepest fall in two weeks. Chile’s largest lender posted a profit of 333 billion pesos ($678 million) in the first nine months of the year, a 13 percent decline from a year earlier, according to a statement distributed by PRNewswire.

Empresas Copec SA (COPEC CC) rose 2.4 percent to 7,510.7 pesos, its highest price since Aug. 15. Chile’s largest pulp exporter, which also operates the country’s largest network of service stations, increased its stake in the controller of Colombian fuel distributor Organizacion Terpel SA to 39 percent from 26 percent for $181 million through a public offer to buy shares, according to a statement posted today on the website of Chile’s securities regulator.

Antarchile SA (ANTAR CC), the holding company that owns 61 percent of Copec, rose 3.7 percent to 8,498.8 pesos.

Empresas La Polar SA (LAPOLAR CC) fell 12 percent to 325.74 pesos, the biggest drop in 17 weeks. The department store operator that is seeking to avert its second bankruptcy in 12 years, tumbled after it unveiled revised financial statements, which include negative equity of 218 billion pesos, and its chairman said that figures it sent to regulators in the past were “fake.”

Salfacorp SA (SALFACOR CC) fell 0.6 percent to 1,518.4 pesos. Chile’s largest engineering and construction company reported third-quarter net income of 3.43 billion pesos, down from 5.23 billion pesos a year earlier, according to a filing sent today to regulators.

--Editors: Richard Richtmyer, 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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