Chilean Stocks: Entel, Madeco and Vapores Were Active

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 gained 0.1 percent to 4,585.95. The MSCI Chile (MXCL) index advanced 0.6 percent to 2,645.56.

Cia. Sud Americana de Vapores SA (VAPORES CC) jumped 8.9 percent to 56.8 pesos, ending the week with a record 34 percent gain. The Shanghai Shipping Exchange’s Containerized Freight Index rose 4.5 percent in the week to March 16, its fourth consecutive weekly gain, according to data released today. The index has increased 29 percent in the year to date.

Empresa Nacional de Telecomunicaciones SA (ENTEL CC) rose 1.8 percent to 9,493.9 pesos, its biggest increase in five weeks. Citigroup Inc. analyst Alexandre Garcia initiated coverage of Chile’s second-largest mobile phone operator with a buy rating and a target price of 10,500 pesos, according to data compiled by Bloomberg.

Madeco SA (MADECO) rose 2.7 percent to 25.73 pesos. The copper cable company increased 9.5 percent in the last two days, its biggest two-day gain since October 2008, after its packaging unit Alusa SA announced an acquisition in Colombia.

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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.