The following companies are having unusual price changes in Chilean trading. Stock symbols are in parentheses and prices are as of 10:25 a.m. in Santiago.
Cap SA (CAP) retreated 0.9 percent to 20,820 pesos and earlier fell 1.2 percent, the most in two weeks. Chile’s largest steelmaker said it will begin production at its Cerro Negro Norte greenfield iron project in the second half of 2013, according to a presentation posted on the company’s website. Cap had said production would begin in the first half of 2013, according to previous presentations on its website.
Lan Airlines SA (LAN) Latin America’s largest airline by market value, fell 0.6 percent to 14,080 pesos and earlier retreated 1.2 percent. Brazil’s Tam SA (TAMM4) said in a statement yesterday there is no defined date for the conclusion of its merger with Lan. Tam still needs the registration of a share swap to complete the process, among other steps, the statement added.
Sonda SA (SONDA) rose 0.1 percent to 1,434 pesos. Chile’s largest information-technology company was rated the equivalent of buy at Itau BBA Securities by equity analyst Susana Salaru. The target price is 1,650 pesos per share.
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