Bloomberg News

Chilean Stock Movers: Cencosud, Copec and La Polar Were Active

June 08, 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 rose 1.5 percent to 4,349.46, completing the biggest weekly gain in almost four months. The MSCI Chile index advanced 1.3 percent to 2,355.22.

Cencosud SA (CENCOSUD) gained 2.7 percent to 2,849.3 pesos. Chile’s largest retailer by sales cut the amount of shares it plans to offer in New York to 91.3 million from 125 million shares, according to a filing sent today to the Securities & Exchange Commission.

Empresas Copec SA (COPEC) increased 2.6 percent to 7,352.9 pesos. Celulosa Arauco & Constitucion SA, a unit of Copec, agreed to pay $243 million for 100 percent of Canadian wood panel producer Flakeboard Co.

Empresas La Polar SA (LAPOLAR) slid 2.5 percent to 384.61 pesos after surging 11 percent in the previous two days. The department-store operator said billionaire Alvaro Saieh hasn’t agreed to acquire all new shares it plans to sell and acquire control of the company, denying a report published yesterday in Santiago-based online newspaper El Mostrador.

To contact the reporter on this story: Eduardo Thomson in Santiago at

To contact the editor responsible for this story: David Papadopoulos at

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