Bloomberg News

Chilean Stocks: Empresas Copec, CMPC and Latam Airlines Group

July 10, 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 dropped 0.5 percent to 4,352.82. The MSCI Chile index advanced 0.2 percent to 2,402.80.

Empresas Copec SA (COPEC) , Chile’s largest pulp exporter, fell 0.1 percent to 7,177.1 pesos, its third day of losses. Pulp prices declined 1 percent in the past week, their seventh week of losses, according to FOEX Indexes Ltd.

Empresas CMPC SA (CMPC) , the country’s second-largest pulp exporter, retreated 0.5 percent to 1,997.9 pesos.

Latam Airlines Group SA (LAN) fell for a sixth straight day, losing 1.4 percent to 12,342 pesos. The stock has lost 9.5 percent since June 21, when the company completed the combination of Lan Airlines SA with Brazil’s Tam SA, as investors bet the world’s biggest carrier by market value had become expensive relative to earnings, said Cristian Jadue, an analyst 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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