Chilean Stocks: Banco Santander, Cencosud and SACI Falabella
The following companies are having unusual price changes in Chilean trading. Stock symbols are in parentheses and prices are as of 11 a.m. in Santiago.
The Ipsa index rose 1.1 percent to 4,061.37. The MSCI Chile (MXCL) index gained 2.6 percent to 2,294.89.
Cencosud SA (CENCOSUD CC), the country’s largest retailer by sales, gained for a fourth day, climbing 1.1 percent to 2,952 pesos. Fidelity Investments plans to add Chilean retail and banking stocks after the global equity rout created “a buying opportunity,” Adam Kutas, who oversees $3 billion of Latin American equities, said by telephone yesterday, without identifying companies.
SACI Falabella (FALAB) advanced 1.3 percent to 4,360 pesos. Chile’s biggest company by market value will continue its Latin American retail expansions even as global economic prospects worsen, newspaper Diario Financiero quoted Chief Executive Officer Juan Benavides as saying.
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