Chilean Stocks: Cencosud, Copec and Endesa Were Active

The following companies had unusual price changes in Chilean trading. Stock symbols are in parentheses, and prices are as of the close in Santiago.

The Ipsa index rose 0.9 percent to 4,396.78 The MSCI Chile index (MXCL) advanced 0.9 percent to 2,418.17.

Cencosud SA (CENCOSUD) , Chile’s largest retailer by sales, retreated 0.2 percent to 2,793.1 pesos, and was the most active stock today with 14.2 billion pesos ($29 million) changing hands. The book-building process for the sale of 91.3 million new Cencosud shares in Santiago will end at 2 p.m. tomorrow local time, according to a statement posted yesterday on the website of the Santiago exchange.

Empresas Copec SA (COPEC) rose 0.5 percent 7,406.1 pesos, its highest price in six weeks. Chile’s largest pulp exporter was initiated coverage at Goldman Sachs Group with the equivalent of a hold rating and a target price of 8,390 pesos.

Empresa Nacional (ENDESA) de Electricidad SA (ENDESA CC) increased 2.3 percent to 830.47 pesos for the biggest gain in almost three months. Chile’s largest power generator has advanced for four straight days as rainfall in Chile’s central region increased water levels at hydroelectric reservoirs.

To contact the reporter on this story: Eduardo Thomson in Santiago at ethomson1@bloomberg.net

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

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