Bloomberg News

Chilean Stocks: Colbun, Endesa and SACI Falabella Are Active

May 31, 2012

The following companies are having unusual price changes in Chilean trading. Stock symbols are in parentheses and prices are as of 10:28 a.m. in Santiago.

The Ipsa index advanced 0.5 percent 4,293.09. The MSCI Chile (MXCL) index gained 0.1 percent to 2,251.70.

Colbun SA (COLBUN CC) fell 0.3 percent to 137. The Santiago-based company said in a regulatory filing after the close of trading yesterday that it wants to halt an environmental permission process for transmission lines from the HidroAysen project, in which it has a 49 percent stake.

Empresa Nacional de Electricidad SA (ENDESA CC), which owns the remaining 51 percent of HidroAysen, fell as much as 0.4 percent to 814.99 pesos before recovering to be little changed. The 2,750-megawatt project lacks political support to go forward, Colbun said.

SACI Falabella (FALAB CC) gained 1.7 percent to 4,610 pesos, heading for the biggest weekly gain since February. Banco BTG Pactual SA reiterated a buy recommendation, saying first- quarter net income excluding a one-time provision would have exceeded estimates on a lower-than-forecast effective tax rate, according to a note to clients distributed today.

To contact the reporter on this story: James Attwood in Santiago at Jattwood3@bloomberg.net

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


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