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Chilean Stocks: AES Gener Declines; Ripley, Socovesa Advance

Dec. 3 (Bloomberg) -- The following companies are having unusual price changes in Chilean trading. Stock symbols are in parentheses and prices are as of 9:45 a.m. New York time.

The Ipsa index fell 0.4 percent to 4,960.07.

AES Gener SA (GENER CC) fell for a second day, down 0.2 percent to 263 pesos. A new pollutants emissions law in Chile may have a negative effect on Chilean power companies with higher exposure to thermal generation such as AES Gener SA, the unit of Arlington, Virginia-based AES Corp., Banco Santander SA wrote in an e-mailed note to clients.

Ripley Corp SA (RIPLEY CC) rose 0.4 percent to 658 pesos. The Chilean department-store operator will open three new stores in Peru this month, and plans to open three stores per year in that country until 2013, Peruvian newspaper La Republica wrote, citing Eduardo Carriquiry, Ripley’s stores manager in Peru.

Socovesa SA (SOCOVESA CC) rose 3.2 percent to a record 382. The Chilean real estate developer has gained 8.5 percent in the last two sessions, the largest two-day increase in a week, after announcing a restructuring of its holdings in 12 different subsidiaries, which will be transferred into a single new company to be called Socovesa Inmobiliaria SA.

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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