Bloomberg News

Chilean Stock Movers: Cervecerias Unidas, Cencosud Were Active

May 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 retreated 0.7 percent to 4,521.01. The MSCI Chile index fell 0.3 percent to 2,580.99.

Cia. Cervecerias Unidas SA (CCU:US) dropped 3.5 percent to 6,728.7 pesos in a fifth day of declines, its longest losing streak since August. Chile’s biggest brewer fell to a two-month low after first-quarter profit trailed analysts’ estimates on higher marketing costs and Bank of America Merrill Lynch cut the company to neutral from buy.

Cencosud SA (CENCOSUD) fell 1 percent to 2,982.5 pesos in its second day of losses. Regulators ordered the country’s largest retailer by sales to close one of its supermarkets after a sanitation violation, Diario Financiero reported.

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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Companies Mentioned

  • CCU
    (Cia Cervecerias Unidas SA)
    • $22.77 USD
    • -0.23
    • -0.99%
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