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Chile Stocks: Habitat, La Polar, Salfacorp, Vina Concha y Toro

The following companies are having unusual price changes in Chilean trading. Stock symbols are in parentheses and prices are as of 1:07 p.m. New York time.

The Ipsa index rose 0.1 percent to 4,769.42.

AFP Habitat (HABITAT) SA increased 3.2 percent to 588 pesos, its biggest gain in two months. Chile’s second-largest pension fund manager expects to recoup in the mid-term its investment in La Polar, the retailer under investigation for consumer-credit irregularities, Chairman Jose Antonio Guzman said yesterday in an interview.

Banco de Chile (CHILE CC) advanced 0.7 percent to 67.25 pesos, and earlier rose 1.8 percent, the most in almost two weeks. Chile’s second largest lender reported preliminary profit of 202 billion pesos ($430 million) in the first five months of the year, according to a statement posted on the bank’s website. In the same period of last year it posted profit of 170 billion pesos, according to a separate statement.

Empresas La Polar SA (LAPOLAR) rose 7.1 percent to 789 pesos, its second day of gains. Bondholders of the department store operator under investigation for consumer-credit irregularities agreed to waive covenants for 90 days that would accelerate pre-payment of bonds.

Bondholders agreed on a waiver of bond covenants that allows the company to suspend pre-payments of debt.

Salfacorp SA (SALFACOR) fell 1.1 percent to 1,765 pesos. Chile’s largest construction and engineering company raised a total 53.4 billion pesos through a rights offer to current shareholders, according to an e-mailed statement distributed yesterday.

Vina Concha y Toro SA (CONCHA) retreated 1.9 percent to 1,220 pesos, the biggest fall in more than a week. Chile’s largest winemaker expects currency appreciation and higher grape costs to offset the effect of price rises this year, keeping profit similar to 2010 levels, Vice Chairman Rafael Guilisasti said in an interview.

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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