Chilean Stocks: Corpbanca, Masisa, Paz Corp, Salfacorp, SQM
The following companies had unusual price changes in Chilean trading. Stock symbols are in parentheses and prices are as of 3:09 p.m. New York time.
The Ipsa index fell 0.8 percent to 4,448.08.
Corpbanca (CORPBANC) declined for a fourth day, sliding 0.5 percent to 7.063 pesos. Banco do Brasil SA, Latin America’s largest bank, halted negotiations to buy a 10 percent stake in the Chilean lender, El Mercurio reported, citing people familiar with the proposed transaction that it didn’t name.
Masisa SA (MASISA) gained 0.3 percent to 74.2 pesos. The Santiago-based forestry company is considering buying land in Colombia and Mexico, Chief Executive Officer Roberto Salas said in an interview with El Mercurio.
Paz Corp SA (PAZ) dropped 2.2 percent to 482.2 pesos. The homebuilder fell after traders and investors forecast the central bank may raise its benchmark interest rate to 3.75 percent this month and 6 percent by March of next year, according to a bi-weekly survey published on the bank’s website.
Salfacorp SA (SALFACOR) fell 2.1 percent to 1,560 pesos, its fourth day of losses. Shareholders of Chile’s largest construction company approved plans to sell 120 billion pesos ($251 million) in new shares, the company said in an e-mailed press release.
Soc. Quimica y Minera de Chile SA (SQM/B CC) fell 0.1 percent to 26,156 pesos. Chile’s largest fertilizer producer was reiterated at “neutral” by the brokerage unit of Banco de Credito e Inversiones, with a 12- to 18-month price estimate of 31,530 pesos.
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