Bloomberg News

Chilean Stocks: Copec, Sonda and Sigdo Koppers Were Active

May 29, 2012

The following companies had unusual price changes in Chilean trading. Stock symbols are in parentheses and prices are as of the market close.

The Ipsa index rose 0.2 percent to 4,269.38. The MSCI Chile (MXCL) index declined 0.7 percent to 2,267.96.

Empresas Copec SA (COPEC CC), the nation’s biggest forestry company, slid 1.2 percent to 6,743.7 pesos, reversing an earlier 2.4 percent gain as profit fell in the first quarter to $154 million from $295 million a year earlier. Prices for wood pulp began to recover in the first quarter on increased demand from Asia, Copec reported. The BHKP pulp price rose for a 21st week to the highest level since September 2011.

Sonda SA (SONDA CC), Chile’s biggest software company, rallied 3 percent to 1,375.4 pesos, the most in two months. “There’s no new information, but people are taking the opportunity after it fell a lot last week,” said Andres Alamos, an analyst at Banchile Corredores de Bolsa SA in Santiago. Shares touched a four-month low last week.

Sigdo Koppers SA (SK CC) gained 1 percent to 1090.9 pesos after reporting first-quarter profit rose to $34.9 million from $28.7 million.

To contact the reporter on this story: Sebastian Boyd in Santiago at sboyd9@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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