The following companies had unusual price changes in Chilean trading. Stock symbols are in parentheses, and prices are as of the close in Santiago.
Cap SA (CAP) , Chile’s largest iron miner and steel exporter, jumped 3.4 percent to 18,607 pesos, a third day of gains. China cut borrowing costs for the first time since 2008 and loosened controls on banks’ lending and deposit rates. China was the destination of 64 percent of Cap’s iron-ore exports in 2011, according to data on its website.
Cencosud SA (CENCOSUD) increased 2.5 percent to 2,774.8 pesos, its biggest increase in more than six weeks. Horst Paulmann, controller of Chile’s largest retailer by sales, will reduce his controlling stake in the upcoming sale of 270 million new shares, El Mercurio wrote today, citing a prospectus filed with the Securities and Exchange Commission.
Empresas La Polar SA (LAPOLAR) gained 5.3 percent to 394.61 pesos and earlier rose 12 percent, the most in seven weeks. Chilean billionaire Alvaro Saieh agreed to buy a controlling stake in the department-store operator, El Mostrador wrote, citing people familiar with the transaction it didn’t name. La Polar isn’t commenting, Carlos Romero at Extend Comunicaciones, which represents the company, said by phone today.
Sigdo Koppers SA (SK) increased 1.5 percent to 1,100 pesos. The Chilean industrial holding company was rated a buy at Santiago-based brokerage IM Trust SA.
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