Chilean Stocks: Banco Santander Chile, Lan Airlines and Masisa

The following companies are having unusual price changes in Chilean trading. Stock symbols are in parentheses, and prices are as of 11:38 a.m. in Santiago.

The Ipsa index retreated 0.5 percent to 4,551.39. The MSCI Chile index dropped 0.9 percent to 2,587.95.

Banco Santander Chile (BSAN CC), the country’s biggest lender, slid 0.8 percent to 38.08 pesos. Santander’s controlling shareholder slumped in Madrid trading along with Spanish equity indexes and the euro as reports showed Spain entered its second recession since 2009.

Lan Airlines SA (LAN) slumped 1.6 percent to 13,580 pesos, the biggest intraday decline in a week. Latin America’s biggest airline by market value had its recommendation lowered to neutral from buy at Bank of America Corp.

Masisa SA (MASISA) , a wood panels producer, dropped 0.9 percent to 54 pesos. Chile’s manufacturing index rose 0.2 percent in March, the National Statistics Institute said in a report today. The median estimate of 13 analysts surveyed by Bloomberg was for manufacturing to increase 3 percent.

To contact the reporter on this story: James Attwood in Santiago at Jattwood3@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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