Bloomberg News

Chile Stocks: Empresas Hites, La Polar, Norte Grande Were Active

March 27, 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 index advanced 0.6 percent to 4,689.64. The MSCI Chile index gained 0.7 percent to 2,678.82.

Empresas Hites SA (HITES) , a Chilean department-store operator, increased 3.8 percent to 408 pesos, its eighth day of gains. Retail sales in Santiago rose 7.6 percent in February from last year, Chile’s chamber of commerce, known as CNC, said in an e-mailed statement today.

Empresas La Polar SA (LAPOLAR) jumped 13 percent to 243 pesos. The Chilean department-store operator seeking to avert its second bankruptcy in 13 years is restructuring its financial services division and has received more than 50,000 requests for its new credit card, Diario Financiero said, citing unidentified people close to the company.

Norte Grande SA (NORTEG) , one of the holding companies through which businessman Julio Ponce controls Soc Quimica & Minera de Chile SA, fell 1.1 percent to 6.50 pesos. Minority shareholders of Norte Grande, including pension and mutual funds, rejected the company’s plan to sell $247 million in new shares, Diario Financiero reported, citing shareholder meeting minutes.

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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