Chilean Stocks: Concha & Toro, Curauma, Endesa and Falabella
The following companies had unusual price changes in Chilean trading. Stock symbols are in parentheses and prices are as of the close in Santiago.
Curauma SA (CURAUMA) rose 8.8 percent to 21 pesos, the most in almost seven months. The Chilean real estate developer earlier surged a record 24 percent in intraday trading on bets that zoning law changes may boost the value of its assets.
Empresa Nacional (ENDESA) de Electricidad SA (ENDESA CC) retreated 0.9 percent to 877.11 pesos, its second day of losses. HidroAysen, a hydroelectric project that the company is developing with peer Colbun SA (COLBUN), will submit a transmission line environmental impact study to regulators at year-end rather than June as previously planned, Dow Jones Newswires reported on the website of Fox Business.
Colbun SA (COLBUN CC) fell 0.3 percent to 139.82 pesos.
SACI Falabella (FALAB) , Chile’s largest retailer by market value, was the most active stock today with 116 billion pesos ($240 million) changing hands, almost 25 times the average volume of the last three months. Of the total, approximately $218 million corresponded to cross trades by Santiago-based brokerage Larrain Vial SA, according to data from the Santiago exchange. Larrain Vial refused to say on behalf of whom it did the operations, it said in an e-mailed response to questions.
Vina Concha & Toro SA (CONCHA) fell 2.7 percent to 1,039.5 pesos, its fifth day of losses. Chile’s largest wine exporter has slumped this week on concern the sovereign debt crisis in Europe, which accounts for 43 percent of the company’s sales, will crimp earnings growth, said German Guerrero, a partner at Santiago-based brokerage MBI Servicios Financieros.
To contact the reporter on this story: Eduardo Thomson in Santiago at firstname.lastname@example.org
To contact the editor responsible for this story: David Papadopoulos at email@example.com