The following companies had unusual price changes in Chilean trading. Stock symbols are in parentheses and prices are as of 3:14 p.m. New York time.
The Ipsa index rose 3 percent to 3,925.55. The MSCI Chile (MXCL) index gained 5.4 percent to 2,197.84.
Cap SA (CAP) jumped 2.9 percent to 16,068 pesos, its biggest gain in three weeks. Chile’s largest iron miner and steel producer rose in line with the price of base metals, which gained on speculation European policy makers will intensify efforts to contain the region’s debt crisis.
Cencosud SA (CENCOSUD CC) gained 4.9 percent to 2,714.7 pesos, the steepest increase in seven weeks. Chile’s largest retailer by sales was reiterated “buy” at Santiago-based brokerage IM Trust SA with a year-end 2012 price estimate of 3,630 pesos.
Cia. Sudamericana de Vapores SA (VAPORES CC) rose 2.4 percent to 128.02 pesos. Latin America’s largest container shipping company expects losses in the third quarter similar to those of the second quarter and a recovery in 2012, according to data posted on the company’s website.
Empresa Nacional de Telecomunicaciones SA (ENTEL CC) advanced 3.4 percent to 9,738.5 pesos. Chile’s second-largest mobile operator and the Ipsa’s top performer this year was initiated with an “overweight” recommendation at HSBC Holdings Plc. Chile’s top two local stock-fund managers expect Entel to extend the 23 percent gain it has had since January.
Sigdo Koppers SA (SK) rose 0.3 percent to 752 pesos. The Chilean industrial holding company plans to sell $370 million in new shares.
To contact the reporter on this story: Eduardo Thomson in Santiago at firstname.lastname@example.org
To contact the editor responsible for this story: David Papadopoulos at email@example.com