Bloomberg News

Chilean Stocks: AES Gener, BCI, Banco Santander and Lan Airlines

May 10, 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 0.2 percent to 4,485.53. The MSCI Chile index rose 0.7 percent to 2,526.49.

AES Gener SA (GENER) retreated 1.5 percent to 290.92 pesos, its third day of losses. Chile’s second-largest power producer has hired two investment banks to study financing options for its Alto Maipo and Cochrane power plant projects, including the sale of stakes to partners, Javier Giorgio, vice president of Gener’s electricity operations, said, according to newspaper La Tercera.

Karin Niklander, head of institutional relations at AES Gener, was not available to comment on the report, an assistant said by phone.

Banco de Credito & Inversiones (BCI CC) dropped 2 percent to 34,001 pesos, the most in two weeks. Chile’s fourth-largest lender had its recommendation cut to sell from hold at Santiago- based brokerage Larrain Vial SA.

Banco Santander Chile (BSAN CC) rose 1.2 percent to 37.48 pesos, the most in more than two weeks. Chile’s largest lender was reiterated at buy at Larrain Vial SA.

Lan Airlines SA (LAN) fell 0.7 percent to 13,248 pesos, and was the Ipsa’s most-active stock by value, with 5.32 billion pesos ($10.9 million) changing hands. Latin America’s largest airline by market value started today a tender offer to swap shares in Brazil’s Tam SA for shares that will later be converted into Latam Airlines.

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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