The following companies had unusual price changes in Chilean trading. Stock symbols are in parentheses, and prices are as of the close in Santiago.
Empresa Nacional (ENDESA) de Electricidad SA (ENDESA CC) dropped 1.6 percent to 875.16 pesos, the steepest fall in more than three months. Chile’s largest power generator, also known as Endesa, declined for a second day after announcing first-quarter net income below analysts’ estimates on higher costs and lower energy prices in Chile and Argentina.
Empresa Nacional de Telecomunicaciones SA (ENTEL CC) rose 0.2 percent to 9,735.6 pesos, its third day of gains. Chile’s second-largest mobile telephone operator plans to invest $900 million this year and a total of $3 billion by 2014, Chief Executive Officer Antonio Buchi said, according to an e-mailed press release.
Lan Airlines SA (LAN) rose 0.3 percent to 13,628 pesos, ending a three-day losing streak. Latin America’s largest airline by market value may complete a share swap with Brazil’s Tam SA (TAMM4) by the first week of June, Lan’s Chief Financial Officer Alejandro De La Fuente told a shareholder meeting.
To contact the reporter on this story: Eduardo Thomson in Santiago at firstname.lastname@example.org
To contact the editor responsible for this story: David Papadopoulos at email@example.com