Chile Stocks: Entel, Ripley Corp Gain; SACI Falabella Declines

The following companies had unusual price changes in Chilean trading. Stock symbols are in parentheses and prices are as of the close in Santiago.

The Ipsa (IPSA) index fell 0.3 percent to 4,525.33. The MSCI Chile (MXCL) index retreated 0.3 percent to 2,625.29.

Empresa Nacional de Telecomunicaciones SA (ENTEL CC) rose 0.3 percent to 9,635.8 pesos. Santiago-based brokerage IM Trust reinitiated coverage yesterday of Chile’s second-largest mobile phone operator with a “buy” rating.

Ripley Corp SA (RIPLEY) advanced 0.4 percent to 555.01 pesos. The stock of Chile’s third-largest department-store operator is “undervalued,” Banco Penta wrote today in a note to clients.

SACI Falabella (FALAB) dropped 1.8 percent to 4,708.3 pesos, its second day of losses. Chile’s largest retailer by market value retreated in line with global equity markets.

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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