Bloomberg News

Chilean Stocks: BCI, Colbun and Ripley Advance; Entel Retreats

January 12, 2012

Jan. 12 (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 0.2 percent to 4,213.54. The MSCI Chile index advanced 0.9 percent to 2,356.38.

Banco de Credito & Inversiones (BCI CC) gained 0.9 percent to a six-month high of 29,714 pesos. Chile’s fourth-largest lender by assets had full-year profit of 261 billion pesos ($522 million), according to a statement posted on the bank’s website. That’s up from 222 billion pesos in the previous year.

Colbun SA (COLBUN CC) gained 2.2 percent to 129.35 pesos, the steepest gain in six weeks. Chile’s third-largest power generator was reiterated at “BBB” with a stable outlook at Fitch Ratings.

Empresa Nacional de Telecomunicaciones SA (ENTEL CC) fell 1.8 percent to 9,666.6 pesos. Chile’s second-largest mobile operator known as Entel has lost 3.3 percent in the three days since an agreement to buy GTD Grupo Teleductos SA fell through. Entel reached an agreement with a unit of Spain’s Telefonica SA to enter Chile’s satellite television market, newspaper Diario Financiero reported today.

Ripley Corp SA (RIPLEY CC) snapped a five-day losing streak, rising 0.5 percent to 498.46 pesos. Chile’s third- largest department-store operator allocated $581 million over the next two years for expansions and working capital, according to a presentation on its website. Ripley will spend $194 million on four new stores and one shopping mall in Chile and eight stores in Peru.

--Editors: James Attwood, 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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