Bloomberg News

Chilean Stocks: Banco Santander, Cencosud Drop; Entel Gains

November 17, 2011

Nov. 17 (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 4,288.70. The MSCI Chile index retreated 2 percent to 2,362.11.

Banco Santander Chile (BSAN CC) fell 3.6 percent to 37.14 pesos. The local unit of Spain’s Banco Santander SA dropped in line with its controller in Madrid, after Spain’s borrowing costs surged to a euro-era record on waning demand at a bond sale, adding to concern the region’s debt crisis is deepening.

Cencosud SA (CENCOSUD CC) dropped 4 percent to 3,131 pesos. Chile’s largest retailer by sales confirmed yesterday the acquisition of Brazilian supermarket chain Prezunic Comercial Ltda. Cencosud gained 2.6 percent the three previous sessions after Brazilian newspaper O Estado de Sao Paulo reported Nov. 14 it was in talks to buy Prezunic.

Empresa Nacional de Telecomunicaciones SA (ENTEL CC) rose 0.4 percent to 9,929.6 pesos, its third day of gains. Chile’s second-largest mobile telephone operator expects its mobile broadband subscribers to surpass its fixed broadband subscribers by next year, Chief Executive Officer Antonio Buchi said, according to La Tercera.

--Editors: Richard Richtmyer, Glenn J. Kalinoski

To contact the reporters on this story: Eduardo Thomson in Santiago at ethomson1@bloomberg.net Leon Lazaroff in New York at llazaroff@bloomberg.net

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


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