Bloomberg News

Chilean Stocks: Molibdenos & Metales Gains; Socovesa Retreats

November 18, 2011

Nov. 18 (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 0.5 percent to 4,265.31. The MSCI Chile index retreated 0.9 percent to 2,340.47.

Molibdenos & Metales SA (MOLYMET CC) rose 1.4 percent to 7,606 pesos, its third day of gains. The world’s largest processor of molybdenum increased after reporting Nov. 16 an 11 percent increase in third-quarter profit.

Socovesa SA (SOCOVESA CC) fell 4.5 percent to 210 pesos, the steepest decline in three weeks. The Chilean homebuilder reported third-quarter profit 60 percent below an estimate of Santiago-based brokerage Celfin Capital SA, Celfin said in an e- mailed note to clients today. The company disclosed results Nov. 16 after the close.

--Editors: Richard Richtmyer, Brendan Walsh

To contact the reporters on this story: Eduardo Thomson in Santiago at ethomson1@bloomberg.net; James Attwood in Santiago at jattwood3@bloomberg.net

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


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