Bloomberg News

Chilean Stocks: Banco de Chile, Cencosud and Empresas Copec

November 16, 2011

Nov. 16 (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 0.4 percent to 4,366.83. The MSCI Chile index gained 0.2 percent to 2,409.19.

Banco de Chile (CHILE CC) gained 4.1 percent to a record 73.22 pesos. Chile’s second-largest lender will see increased demand for its shares after being included in the MSCI EM Latin America index, Banco Santander SA wrote in a note to clients today.

Cencosud SA (CENCOSUD CC) rose 0.5 percent to 3,262.2 pesos. Chile’s largest retailer by sales will acquire Brazilian supermarket operator Prezunic Comercial Ltda as it expands its presence in Latin America’s largest economy with a fifth acquisition in four years.

Empresas Copec SA (COPEC CC) rose 1 percent to 7,523.1 pesos, its second day of gains. The company’s pulp export unit will receive $254 million before the end of the year as insurance payments after the February 2010 earthquake temporarily shut down operations at its plants.

--Editors: James Attwood, Glenn J. Kalinoski

To contact the reporters on this story: Eduardo Thomson in Santiago at ethomson1@bloomberg.net; Boris Korby in New York at bkorby1@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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