Bloomberg News

Chilean Stocks: Banco de Chile, Cencosud and Copec Were Active

June 06, 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 jumped 1.5 percent to 4,270.31. The MSCI Chile (MXCL) index advanced 2.2 percent to 2,292.85. Both indexes rose the most in six months.

Banco de Chile (CHILE CC) was the only members of the Ipsa benchmark index to decline, falling less than 0.1 percent to 70.33 pesos. Chile’s largest lender by assets will distribute new shares to current stakeholders on June 28, it said yesterday in a filing to regulators. The bank will give 0.018956 new share per stock for shareholders registered by June 22. The shares will be paid with retained dividends.

Cencosud SA (CENCOSUD) gained 1.6 percent to 2,708.1 pesos and was the most active stock today with 9.8 billion pesos ($19 million) changing hands, more than twice the average of the last three months. Chile’s largest retailer by sales ended a three-day losing streak today. It announced yesterday it would offer 125 million shares in New York as part of the sale of 270 million new shares.

Empresas Copec SA (COPEC) rose 3.8 percent to 7,051.3 pesos, its biggest jump in more than seven months. Chile’s largest pulp exporter had its recommendation increased to hold from underperform at Banco Santander SA.

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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