Chilean Stocks: Colbun, Grupo Security, E-CL Gain; Copec Falls
The following companies had unusual price changes in Chilean trading. Stock symbols are in parentheses and prices are as of the close in Santiago.
Colbun SA (COLBUN) rose 0.8 percent to 131 pesos, its second day of gains. Chile’s third-largest power producer said it received a total of $103 million in insurance from a consortium of building companies for delays in construction of a power plant in southern Chile. The company also began an arbitration process in Paris against the consortium, according to a statement posted yesterday on the website of Chile’s securities regulator.
E-CL SA (ECL) rose 0.8 percent to 1,373.1 pesos. Northern Chile’s largest power generator received authorization from the environmental regulator to build a $280 million wind farm in northern Chile, Diario Financiero wrote today.
Empresas Copec SA (COPEC) fell 1.5 percent to 6,892.2 pesos, its fifth day of losses. Chile’s largest pulp exporter fell in line with global markets, which retreated as the European Central Bank’s balance sheet increased to a record after a surge of bank lending to stem the region’s debt crisis.
Grupo Security SA (SECUR) rose 2.5 percent to 175 pesos, its highest price in six weeks. The Chilean financial services group has gained 8.6 percent since Dec. 15, the day before the exchange said it may be included in the Ipsa benchmark index in 2012.
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