Bloomberg News

Chilean Stocks: Banco Santander, Invermar, Molymet, Ripley Corp

February 24, 2012

Feb. 24 (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 0.4 percent to 4,512.16. The MSCI Chile index advanced 0.7 percent to 2,619.61.

Banco Santander Chile (BSAN CC), the country’s largest lender, gained 1.1 percent to 37.27 pesos. Fitch affirmed its A+ rating and removed it from rating watch negative.

Invertec Pesquera Mar de Chiloe SA (INVERMAR CC) dropped 3.3 percent to 184.5 pesos, its steepest fall in three months. The Chilean salmon farmer denied yesterday it’s in talks with banks to ease debt covenants.

Molibdenos & Metales SA (MOLYMET CC), the world’s largest molybdenum processor, gained 1.5 percent to 8,320 pesos, ending a three-day losing streak. The company’s plan to acquire 13 percent of Molycorp Inc. for $390 million was approved by U.S. regulators.

Ripley Corp SA (RIPLEY CC) fell 0.6 percent to 552.53 pesos for the biggest drop in almost three weeks. Chile’s third- largest department store operator said a fire destroyed one of its stores in southern Chile.

--Editors: Glenn 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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