Bloomberg News

Chilean Stocks: Cencosud SA and Empresas La Polar Were Active

April 16, 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 0.2 percent to 4,519.46. The MSCI Chile index (MXCL) retreated 0.5 percent to 2,566.39.

Cencosud SA (CENCOSUD) fell 0.9 percent to 2,978.6 pesos, its lowest price in more than two months. Chile’s largest retailer by sales was the most active stock today by value with 7.1 billion pesos ($14.5 million) changing hands. It declined on speculation that the Argentine government’s planned nationalization of oil company YPF SA may be a first step in other expropriations in the country. Cencosud receives approximately 25 percent of its earnings from Argentina.

Empresas La Polar SA (LAPOLAR) surged 15 percent to 387.37 pesos, its highest price in five months. La Polar has gained 29 percent in the last four days. Chairman Cesar Barros said he’s confident that the $200 million capital increase the retailer plans to complete in the second quarter will be successful and that La Polar won’t go bankrupt, Emol reported on its website April 12.

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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