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Chilean Stocks: Cap, Falabella, Lan and Vapores Were Active

March 20 (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 retreated 0.6 percent to 4,614.38. The MSCI Chile index fell 1.2 percent to 2,639.01.

Cap SA (CAP CC) retreated 0.2 percent to 20,964 pesos, the most in two weeks. Chile’s largest steelmaker said it will begin production at its Cerro Negro Norte greenfield iron project in the second half of 2013, according to a presentation posted on the company’s website. Cap had said production would begin in the first half of 2013, according to previous presentations on its website.

Cia. Sud Americana de Vapores SA (VAPORES CC) snapped the longest winning streak in more than three months, falling 3.4 percent to 61.74 pesos. Chile’s largest container shipping company gained 51 percent in the previous six days on signs of a global recovery in shipping rates.

Lan Airlines SA (LAN CC) Latin America’s largest airline by market value, fell 1.2 percent to 14,012 pesos. Brazil’s Tam SA said in a statement yesterday there is no defined date for the conclusion of its merger with Lan. Tam still needs the registration of a share swap to complete the process, among other steps, the statement added.

SACI Falabella (FALAB CC) closed little changed at 4,775.3 pesos after earlier falling as much as 1.2 percent. Chile’s largest retailer by market value denied reports that it plans to list American depositary receipts and enter the Mexican market this year.

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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