Chilean Stock Movers: Cervecerias Unidas, Cencosud 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. Cervecerias Unidas SA (CCU) dropped 3.5 percent to 6,728.7 pesos in a fifth day of declines, its longest losing streak since August. Chile’s biggest brewer fell to a two-month low after first-quarter profit trailed analysts’ estimates on higher marketing costs and Bank of America Merrill Lynch cut the company to neutral from buy.
Cencosud SA (CENCOSUD) fell 1 percent to 2,982.5 pesos in its second day of losses. Regulators ordered the country’s largest retailer by sales to close one of its supermarkets after a sanitation violation, Diario Financiero reported.
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