Bloomberg News

Chilean Stocks: Banco Santander and Colbun Fall; Endesa Gains

February 02, 2012

Feb. 2 (Bloomberg) -- The following companies had unusual price changes in Chilean trading. Stock symbols are in parentheses and prices are as of the close.

The Ipsa index rose 0.5 percent to 4,338.37. The MSCI Chile index gained 1.9 percent to 2,531.77.

Banco Santander Chile (BSAN CC) dropped 4.1 percent to 36.65 pesos. The country’s biggest bank by assets will prioritize profitability over market share gains this year as proposed lending restrictions and inflation threaten to narrow margins, Raimundo Monge, director of corporate strategy, said on a conference call today.

Colbun SA (COLBUN CC) fell the most in two weeks, losing 1.1 percent to 127.83 pesos. The electricity generator’s fourth- quarter profit of $32.3 million, reported after the close of trading yesterday, trailed Banchile Inversiones’s $41.5 million forecast.

Empresa Nacional de Electricidad SA (ENDESA CC) gained 1.8 percent to 789.43 pesos. Chile’s largest power generator has increased 4.1 percent in the two days since reporting fourth- quarter profit that beat analysts’ estimates.

--Editors: Glenn J. Kalinoski, David Papadopoulos

To contact the reporter on this story: 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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