Chilean Stocks: Cencosud, Copec, Falabella, Lan and La Polar
The following companies had unusual price changes in Chilean trading. Stock symbols are in parentheses, and prices are as of the close in Santiago.
Cencosud SA (CENCOSUD) fell 2.3 percent to 2,783.3 pesos, ending a three-day winning streak. Holders of Chile’s largest retailer by sales will have rights to buy 0.1073 of a share per each share they already own in a planned capital increase, according to a statement posted June 8 on the website of the Santiago stock exchange.
Empresas Copec SA (COPEC) , Chile’s biggest forestry company, advanced 0.3 percent to 7,377.7 pesos, its fifth day of gains and its longest winning streak in four months. Celulosa Arauco & Constitucion SA, a unit of Empresas Copec, on June 8 agreed to pay $243 million for Canadian wood panels producer Flakeboard Co.
Empresas La Polar SA (LAPOLAR) fell 5.3 percent to 364.35 pesos, its steepest drop in seven weeks. The Chilean department-store operator approved the sale of 750 million new shares to raise about 120 billion pesos ($239 million), Diario Financiero reported, citing Chairman Cesar Barros. An officer at Extend Comunicaciones, Las Polar’s external press relations provider, wasn’t immediately available to comment.
Lan Airlines SA (LAN) rose 1.1 percent to 12,908 pesos, its fourth day of gains. Passenger traffic at Latin America’s largest airline by market value rose 14.9 percent in May from a year earlier while cargo traffic fell 2.8 percent, it said June 8 in an e-mailed statement.
SACI Falabella (FALAB) fell 1.3 percent to 4,651.4 pesos, its biggest retreat in more than three weeks. Chile’s largest retailer by market value was reiterated at hold at Santiago-based brokerage IM Trust SA, with a year-end target price of 4,860 pesos, it said in an e-mailed note to clients.
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