Chilean Stocks: Cencosud, CTI and Molibdenos & Metales
The following companies are having unusual price changes in Chilean trading. Stock symbols are in parentheses and prices are as of 11:46 a.m. New York time.
The Ipsa index fell 2.2 percent to 4,136.64.
Cencosud SA (CENCOSUD CC) retreated 1.5 percent to 2,921 pesos, the biggest decline in a week. Latin America’s third- largest retailer by sales dropped as global stock markets retreated amid concern growth is slowing in the U.S. and European banks lack sufficient capital.
CTI Cia Tecno Industrial SA (CTI) , a Chilean home appliances producer, jumped 7.9 percent to 34 pesos and earlier rose 24 percent to a record 39 pesos. CTI’s controller, Chilean holding company Sigdo Koppers SA (SK), confirmed it is in negotiations to sell the company.
Molibdenos & Metales SA (MOLYMET CC) fell 2.5 percent to 7,800 pesos and earlier slumped 11 percent, its biggest intraday drop since November. The Chilean molybdenum processor reported yesterday a 21 percent decline in second-quarter net income.
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