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 increased 1.2 percent to 4,594.44. The MSCI Chile index rose 1.2 percent to 2,605.54.
Cencosud SA (CENCOSUD CC), Chile’s largest retailer by market value, climbed 4 percent to 3,095.1 pesos, its biggest gain in more than four months. Banco Santander SA added Cencosud to its 10 favorite Latin American stocks, citing attractive valuation and strong consumer momentum in the Andean region, according to an e-mailed note to clients.
Cia. Sud Americana de Vapores SA (VAPORES CC) fell 1.2 percent to 55.43 pesos. Latin America’s largest container shipping company forecast “strongly negative” financial results in the first quarter. CSAV posted a presentation on its website that cited low shipping rates, high oil prices and difficult economic conditions.
Parque Arauco SA (PARAUCO CC) advanced 1.5 percent to 944 pesos, the biggest gain in almost three weeks. The Chilean shopping mall developer agreed to pay $32 million for control of a Santiago mall, according to a statement posted yesterday on the website of the securities regulator.