Bloomberg News

Chilean Stocks: Cap, Corpbanca and Lan Airlines Were Active

May 14, 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 1.4 percent to 4,414.92. The MSCI Chile index fell 2.2 percent to 2,454.74.

Cap SA (CAP) , Chile’s largest iron miner and steel producer, lost 2.8 percent to 18,877 pesos, the biggest fall in more than five months. Base metals prices slumped today on speculation that a possible Greek exit from the currency union that uses the euro and a slowdown in China will erode demand.

Corpbanca (CORPBANC) retreated 1.3 percent to 6.556 pesos, the steepest drop in more than six weeks. Chile’s fifth- largest lender set a price of 6.25 pesos per share for the planned sale of 43 billion new shares, according to a statement posted May 10 on the Chilean securities regulator’s website.

Lan Airlines SA (LAN) fell 1.6 percent to 12,999 pesos, its fifth day of losses and its biggest drop since January. Latin America’s largest airline by market value reported May 11 a 22 percent decline in first-quarter profit as fuel costs rose and growth in cargo operations slowed.

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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