Chilean Stocks: Cap Posts Biggest Drop in Week, Ripley Falls
The following companies had unusual price changes in Chilean trading. Stock symbols are in parentheses and prices are as the close in Santiago.
Cap SA (CAP) dropped 0.7 percent to 18,990 pesos. Chile’s largest iron ore miner and steel producer fell after saying that the cost to develop its Cerro Negro Norte iron ore project increased to $800 million.
Lan Airlines SA (LAN) rose 0.3 percent to 12,377 pesos, its fourth day of gains. Shareholders of Latin America’s largest airline by market value approved today the company’s planned takeover of Brazil’s Tam SA.
Ripley Corp SA (RIPLEY) retreated 0.6 percent to 493.01 pesos. Chile’s third-largest department-store operator was reiterated at “hold” at Santiago-based brokerage IM Trust SA Corredores de Bolsa, according to an e-mailed note to clients.
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