Bloomberg News

Chilean Stocks: Corpbanca, Madeco and Vapores Were Active

March 15, 2012

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 (IPSA) index rose 0.6 percent to 4,580.63. The MSCI Chile (MXCL) index advanced 1.1 percent to 2,631.07.

Cia. Sud Americana de Vapores SA (VAPORES CC) gained 3.8 percent to 52.17 pesos. Chile’s largest container shipping company has advanced 23 percent in the past four days as increases in global freight rates signal a recovery in the container-shipping industry.

Corpbanca (CORPBANC) (CORPBANC CC) fell 2.1 percent to 6.556 pesos, its lowest price since Nov. 29. Chile’s fifth-largest lender was reiterated at sell by Santiago-based brokerage Larrain Vial SA after it said it will seek shareholder approval to sell 48 billion new shares to help finance the purchase of Banco Santander SA’s Colombian unit.

Madeco SA (MADECO) , the Chilean copper cable producer, advanced 6.6 percent to 25.05 pesos, its biggest increase in more than three months. Madeco’s flexible packaging unit Alusa SA agreed to acquire Colombian peer Empaques Flexa SAS, according to an e-mailed statement yesterday.

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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