Bloomberg News

Chilean Stocks: Santander, Cencosud, Falabella, Lan and Ripley

December 14, 2011

Dec. 14 (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 1.1 percent to 4,119.12. The MSCI Chile index dropped 2.5 percent to 2,219.95.

Banco Santander Chile (BSAN CC) retreated 3.4 percent to 35.32 pesos, the steepest fall in three weeks. Standard & Poor’s yesterday put its ratings for the country’s largest lender on review for a possible downgrade.

Cencosud SA (CENCOSUD CC), Chile’s largest retailer by sales, fell 3.1 percent to 2,972.5 pesos, its biggest fall in four weeks. The country’s Economic Prosecutor searched offices of Chilean supermarket operators Cencosud, SACI Falabella, Walmart Chile SA and SMU SA as part of an investigation into anti-competitive practices.

Falabella (FALAB CC) fell 1.7 percent to 4,208.5 pesos.

Lan Airlines SA (LAN CC), Latin America’s largest airline by market value, rose 0.7 percent to 12,160 pesos, ending a three-day losing streak. Brazil’s antitrust authority Cade approved with restrictions the company’s planned takeover of Tam SA.

Ripley Corp SA (RIPLEY CC) lost 1.4 percent to 486 pesos. Credit Suisse AG cut its target price for the Chilean department-store operator to 550 pesos from 600 pesos, according to data compiled by Bloomberg.

--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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