Bloomberg News

Chilean Stocks: Azul Azul, Cencosud, Lan Airlines Were Active

June 22, 2012

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

The Ipsa index retreated 0.1 percent to 4,358.84. The MSCI Chile index dropped 1.3 percent to 2,353.99.

Azul Azul SA (AZUL) , owner of the Universidad de Chile soccer team, slumped 9 percent to 1,396.3 pesos and earlier fell as much as 15 percent. Universidad de Chile lost to Argentina’s Boca Juniors in the semifinals of the Libertadores Cup.

Cencosud SA (CENCOSUD) retreated 1.1 percent to 2,765.7 pesos, the lowest in a week. Chile’s largest retailer by sales priced 91.3 million new shares at 2,600 pesos each, as part of a larger sale of 243 million new shares.

Lan Airlines SA (LAN) fell 1.1 percent to 13,489 pesos. The Chilean carrier completed its takeover of Brazil’s Tam SA, changing its name to Latam Airlines Group SA. Fitch Ratings cut its debt rating for the newly combined company to BB+, one level below investment grade.

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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