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Chilean Stocks: Cap, Cencosud, CFR, Coloso and Soquimich

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Nov. 8 (Bloomberg) -- 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 0.6 percent to 4,370.80. The MSCI Chile index gained 1.2 percent to 2,476.54.

Cap SA (CAP CC) advanced 1 percent to 19,082 pesos. Chile’s largest iron miner and steel producer has gained 3.3 percent in the last two days after reporting Nov. 4 a 75 percent increase in third-quarter profit.

Cencosud SA (CENCOSUD CC) increased 1.1 percent to 3,164.3 pesos, its fourth day of gains. Banco Santander SA named Chile’s largest retailer by sales as one of its top picks among local stocks, according to an e-mailed note to clients.

CFR Pharmaceuticals SA (CFR CC) jumped 5.5 percent to 123.99 pesos. The Chilean drug developer and distributor agreed to buy a 51 percent stake in Canada’s Uman Pharma Inc. for $26.6 million. This is CFR’s second acquisition announcement in a week after it said Nov. 2 it agreed to pay $14.4 million for a 42 percent stake in Vietnamese pharmaceuticals company Domesco Medical Import Export Joint Stock Corp.

Soc. Pesquera Coloso SA (COLOSO CC) surged 18 percent to 400 pesos, its biggest increase since May 2002. The Chilean fishing company agreed to sell a salmon-farming unit to Japan’s Mitsubishi Corp. for $65.3 million plus $59 million to cover the unit’s debt to Coloso.

Soc. Quimica & Minera de Chile SA (SQM/B CC) rose 0.5 percent to 29,481 pesos, its third day of gains. Banco Santander SA named Chile’s largest fertilizer producer as one of its top picks among local stocks, according to an e-mailed note to clients.

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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