Bloomberg News

Chilean Stocks: Cap SA, Lan Airlines SA and Empresas La Polar SA

March 30, 2012

The following companies are having unusual price changes in Chilean trading. Stock symbols are in parentheses and prices are as of 11 a.m. in Santiago.

The Ipsa index rose 0.4 percent to 4,670.14. The MSCI Chile index (MXCL) advanced 1.2 percent to 2,662.87.

Cap SA (CAP) increased 0.9 percent to 20,670 pesos, poised for its biggest gain in three weeks. Chile’s largest steel producer and iron miner rose in line with gains in global industrial metal prices as European officials met to increase rescue funds for indebted nations.

Empresas La Polar SA (LAPOLAR) surged 11 percent to 314.1 pesos. The department-store operator seeking to avert its second bankruptcy in 13 years has gained 47 percent in the past four days. The company said yesterday in a statement that it didn’t have any explanation for the increase. La Polar may report 2011 results by April 4, according to data compiled by Bloomberg.

Lan Airlines SA (LAN) rose 0.4 percent to 14,370 pesos, heading for the highest closing price since January last year. Chile’s Supreme Court may rule within two weeks on Lan’s request to review conditions imposed by antitrust authorities to approve its takeover of Brazil’s Tam SA (TAMM4), EFE quoted Lan Chief Executive Officer Enrique Cueto as saying.

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


Tim Cook's Reboot
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus