Bloomberg News

Chilean Stocks: Paz Corp, Socovesa and Sud Americana de Vapores

February 17, 2012

Feb. 17 (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 1.2 percent to 4,545.90. The MSCI Chile index gained 1.6 percent to 2,626.26.

Cia. Sud Americana de Vapores SA (VAPORES CC) advanced 8 percent to 114 pesos. Latin America’s largest container shipping company has gained 15 percent in the last three days after it raised $1.2 billion in a capital increase.

Socovesa SA (SOCOVESA CC) jumped 6.7 percent to 223.99 pesos. Chilean homebuilders are climbing as better-than-forecast economic data in the U.S. this week and rising global markets boost prospects for local cyclical stocks, Hernan Campos, head of research at Wac Inversiones in Santiago, said in a phone interview.

Paz Corp SA (PAZ CC), another home builder, rose 8.7 percent to 243.39 pesos, the biggest increase in almost four months.

--Editors: Glenn J. Kalinoski, Brendan Walsh

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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