Chilean Stocks: Entel, Madeco and Vapores Were Active
The following companies had unusual price changes in Chilean trading. Stock symbols are in parentheses and prices are as of the close in Santiago.
Cia. Sud Americana de Vapores SA (VAPORES CC) jumped 8.9 percent to 56.8 pesos, ending the week with a record 34 percent gain. The Shanghai Shipping Exchange’s Containerized Freight Index rose 4.5 percent in the week to March 16, its fourth consecutive weekly gain, according to data released today. The index has increased 29 percent in the year to date.
Empresa Nacional de Telecomunicaciones SA (ENTEL CC) rose 1.8 percent to 9,493.9 pesos, its biggest increase in five weeks. Citigroup Inc. analyst Alexandre Garcia initiated coverage of Chile’s second-largest mobile phone operator with a buy rating and a target price of 10,500 pesos, according to data compiled by Bloomberg.
Madeco SA (MADECO) rose 2.7 percent to 25.73 pesos. The copper cable company increased 9.5 percent in the last two days, its biggest two-day gain since October 2008, after its packaging unit Alusa SA announced an acquisition in Colombia.
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