Bloomberg News

Chilean Stocks: Cencosud and Lan Airlines Advance; CSAV Retreats

February 13, 2012

Feb. 13 (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 0.5 percent to 4,433.59. The MSCI Chile index advanced 0.1 percent to 2,591.5.

Cencosud SA (CENCOSUD CC) advanced 1.7 percent to 3,104.5 pesos, its highest price since Nov. 30. Chile’s largest retailer by sales expects to increase sales this year and will boost its investment budget by 30 percent, according to a statement e- mailed Feb. 10.

Cia. Sud Americana de Vapores SA (VAPORES CC), the worst performer in 2011 among members of the Ipsa benchmark index, fell 0.4 percent to 99.56 pesos. Latin America’s largest container shipping company, also known as CSAV, had a net loss of $1.25 billion in 2011, down from a profit of $171 million in 2010, according to a statement posted today on the local regulator’s website.

Lan Airlines SA (LAN CC), Latin America’s largest carrier, gained 2.4 percent to 12,791 pesos, its biggest increase in 11 weeks. Brazilian airline Tam SA, which Lan is planning to take over, posted fourth-quarter income today that beat analysts’ expectations.

--Editors: David Papadopoulos, Lester Pimentel

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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