Bloomberg News

Chilean Stocks: Azul Azul, Empresas La Polar and Lan Airlines

November 04, 2011

Nov. 4 (Bloomberg) -- The following companies had unusual price changes in Chilean trading. Stock symbols are in parentheses and prices are as of 4:15 p.m. in Santiago.

The Ipsa index fell 0.2 percent to 4,269.21. The MSCI Chile index retreated 0.4 percent to 2,423.74.

Azul Azul SA (AZUL CC) rose 14 percent to 2,143.8 pesos, its biggest gain in a week. The Universidad de Chile soccer team, which is owned by Azul Azul, last night beat Argentine rival Arsenal Futbol Club in the first leg of quarterfinals of the Copa Sudamericana soccer tournament.

Empresas La Polar SA (LAPOLAR CC) rose 11 percent to 461.81 pesos, its highest price on a closing basis since Aug. 17. The Chilean department store operator is meeting with bondholders today to vote on a preventive judicial agreement to avert its second bankruptcy in 12 years.

Lan Airlines SA (LAN CC) fell 0.4 percent to 12,206 pesos. Latin America’s largest airline by market value fell in line with global markets, which retreated after G-20 leaders failed to agree on increasing the International Monetary Fund’s resources, fueling concern that European leaders won’t be able to tap more foreign aid to tame their debt crisis.

--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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