Chilean Stocks: CMPC, Copec, Molymet, Ripley Corp and Vapores
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 6.6 percent to 45.38 pesos. Chile’s largest container shipping company gained after announcing the appointment of Oscar Hasbun as chief executive officer and on signs of an improvement of the global economy, Jorge Sepulveda, an analyst at Euroamerica Corredores de Bolsa SA, said in an interview.
Empresas CMPC SA (CMPC) dropped 0.9 percent to 2,044.5 pesos, its seventh day of losses. Chile’s second-largest pulp exporter had its recommendation cut to sell from neutral at Banchile-Citi, the joint research department of Citigroup Inc. and local lender Banco de Chile.
Empresas Copec SA (COPEC) fell for an eighth day, down 0.9 percent to 7,852 pesos, its longest losing streak in three years. Chile’s largest pulp exporter had its recommendation cut to neutral from buy at Banchile-Citi.
Molibdenos & Metales SA (MOLYMET) (MOLYMET CC), or Molymet, advanced 4.2 percent to 8,699.5 pesos, its biggest gain in six weeks. The world’s largest molybdenum processor completed the acquisition of 12.5 million shares in Greenwood Village, Colorado-based Molycorp Inc. for $390 million, Molycorp said yesterday in a statement.
Ripley Corp SA (RIPLEY) advanced 1.1 percent to 563 pesos. Chile’s third-largest department-store operator would be among the least affected stocks by the Chilean government’s plans to raise the corporate tax rate, Banco Santander SA said today in a note to clients.
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