Bloomberg News

Chilean Stocks: CCU, Cencosud, Copec, La Polar Were Active

April 03, 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 fell 0.8 percent to 4,655.18. The MSCI Chile index (MXCL) retreated 0.1 percent to 2,679.11.

Cia. Cervecerias Unidas SA (CCU) dropped 4.1 percent to 7,484 pesos, its biggest decline in three months. Approximately 8.7 billion pesos ($18 million) in shares changed hands today, almost eight times the average volume of the last three months. Of this amount, 7.7 billion pesos corresponded to six cross trades done today at 7,587 pesos each by Santiago-based brokerage Celfin Capital SA on behalf of clients, according to data compiled by Bloomberg. A press officer at Celfin, who asked not to be identified in accordance with company policy, declined to identify the clients.

Cencosud SA (CENCOSUD CC) fell 1.2 percent to 3,200.1 pesos, the biggest drop in two weeks. Chile’s largest retailer by sales denied it’s in talks to buy Brazil’s DMA Distribuidora SA, the company said in an e-mailed response to questions.

Empresas Copec SA (COPEC) Chile’s largest pulp exporter, dropped 1.2 percent to 7,915.2 pesos, its third day of losses. Pulp prices fell for the first time this week, ending a four- week winning streak, according to Foex Pulp and Paper Index Products.

Empresas La Polar SA (LAPOLAR) increased 4.4 percent to 346.65 pesos, the highest price since Dec. 12. The department- store operator trying to avert a second bankruptcy in 13 years is set to start meetings with investors for a capital increase this month, El Mercurio said, citing an interview with chief executive officer Patricio Lecaros. The comments were verified by the company’s external communications department.

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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