Chilean Stocks: Lan Airlines, Molymet, Soquimich and Vapores
The following companies had unusual price changes in Chilean trading. Stock symbols are in parentheses and prices are as of 3:17 p.m. New York time.
The Ipsa index fell 1.3 percent to 4,250.72.
Cia. Sudamericana de Vapores SA (VAPORES CC) retreated 3.7 percent to 220.05 pesos, the steepest decline in two weeks. Latin America’s largest container shipping company fell along with declines in global equities after the U.S. reported that employment stagnated in August, fanning concern of an economic slowdown.
Lan Airlines SA (LAN) , Latin America’s largest airline by market value, rose 1.6 percent to 13,458 pesos, its highest price in seven weeks. Chile’s constitutional court rejected yesterday a request by local airline Pal to review Lan’s planned takeover of Brazil’s Tam SA.
Molibdenos & Metales SA (MOLYMET CC) dropped for a second day, losing 2.9 percent to 8,100 pesos. The world’s largest molybdenum processor had its share estimate cut at Santiago- based broker Banco Penta to 9,666 pesos from 12,900 pesos.
Soc. Quimica & Minera de Chile SA (SQM/B CC) lost 3.7 percent to 28,447 pesos, the biggest fall since Aug. 8. Chile’s largest fertilizer producer was cut to “hold” from “buy” at Deutsche Bank AG.
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