Bloomberg News

Chilean Stocks: Cencosud, Copec Decline as Lan Airlines Advances

January 03, 2012

Jan. 3 (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 0.1 percent to 4,163.16. The MSCI Chile index gained 1 percent to 2,278.52.

Cencosud SA (CENCOSUD CC) fell 0.7 percent to 2,964.4 pesos, its third day of losses. Chile’s largest retailer by sales completed the acquisition of Brazilian supermarket chain Prezunic Comercial Ltda., paying a first installment of 391 million reais ($211 million).

Empresas Copec SA (COPEC CC), Chile’s biggest pulp exporter, retreated 0.3 percent 6,793.1 pesos, its third day of losses. Fires in southern Chile destroyed its plywood plant at the Nueva Aldea complex yesterday.

Lan Airlines SA (LAN CC) rose 0.2 percent to 12,166 pesos. Latin America’s largest airline by market value will continue operating international flights from the Aeroparque Jorge Newberry airport in Buenos Aires until a court rules on the aviation authority’s decision to suspend flights to Santiago and Sao Paulo, Santiago-based newspaper La Tercera reported.

Shareholders of Brazil’s Tam SA also approved today the terms of their takeover by Lan.

--Editors: James Attwood, Marie-France Han

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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