Chile Stocks: Copec Falls; Falabella, Lan and Masisa Rise
The following companies had unusual price changes in Chilean trading. Stock symbols are in parentheses and prices are as of 3:12 p.m. New York time.
The Ipsa index retreated 0.1 percent to 4,482.68.
Empresas Copec SA (COPEC) fell 1.5 percent to 7,920.3, pesos, the steepest decline in three weeks. Chile’s largest pulp exporter closed its Valdivia plant because of low water levels in the Cruces River. Antarchile SA (ANTAR) , the holding company that owns 61 percent of Copec, sank 1.5 percent to 9,403.6 pesos.
Lan Airlines SA (LAN) rose for the first time in three days, climbing 1 percent to 12,912 pesos. Latin America’s biggest air carrier signed an agreement with JetBlue Airways Corp. to expand destinations in the U.S. and the Caribbean.
Masisa SA (MASISA) gained 1.4 percent to 73.99 pesos. The Chilean wood panels and moldings company said late yesterday that profit rose 87 percent in 2010 to $72 million.
SACI Falabella (FALAB) advanced 1.5 percent to 4,460.6 pesos, its second day of gains. Chile’s largest retailer by market value reported fourth-quarter profit of 169 billion pesos late yesterday. The average estimate of six analysts surveyed by Bloomberg was for earnings of 117 billion pesos.
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