Bloomberg News

Chilean Stocks: Cap, Cencosud and Vapores Fall; Schwager Jumps

November 09, 2011

Nov. 9 (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 fell 1.8 percent to 4,290.66. The MSCI Chile index retreated 2.3 percent to 2,419.08.

Cap SA (CAP CC) fell 2.3 percent to 18,652 pesos, its biggest drop in five weeks. Chile’s largest iron-ore and steel producer slumped along with industrial metal prices.

Cencosud SA (CENCOSUD CC) retreated 1.4 percent to 3,119.9 pesos, the steepest fall in a week. Chile’s largest retailer by sales led trading today in the Santiago exchange with 10 billion pesos ($20 million) changing hands, as surging Italian bond yields spurred concern that the European sovereign debt crisis is worsening.

Cia. Sud Americana de Vapores SA (VAPORES CC), Latin America’s largest container shipping company, dropped 4.5 percent to 141.53 pesos, the biggest fall in three weeks. A.P. Moeller-Maersk A/S said its container shipping line, the world’s biggest, will lose money this year, lowering a previous forecast of a “modest” profit as freight rates plunged.

Schwager Energy SA (SCHWAGER CC) jumped 62 percent to 1.62 pesos, the biggest increase since October 2004. The Chilean environmental and energy services company won a maintenance contract from state-owned copper miner Codelco worth 10.3 billion pesos, according to a filing sent today to regulators.

--Editor: 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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