Sept. 10, 2008 (Bloomberg) — Embotelladora Andina SA, which distributes Coca-Cola products in Chile, Brazil and Argentina, gained the most in two months in Santiago trading on prospects of increased sales of its soft drinks, after Brazil said its economy is expanding faster than economists estimated.
Andina rose 3.5 percent to 1,500 pesos. It was the biggest gain for the Santiago-based company since July 8.
Brazil’s Finance Minister Guido Mantega said today that Latin America’s biggest economy would expand 5 percent to 5.5 percent in 2008 without pushing inflation beyond target rates. The economy grew 6.1 percent in the second quarter, the national statistics agency said today, beating all estimates in a Bloomberg survey of 36 economists.
“Andina is up because of the release of Brazilian growth, as well as the fact that inflation is slowing and it looks like it will be under control by the end of the year,” Diana Santibanez, an analyst at Penta Estrategia & Inversiones SA, said by phone from Santiago today. “We like this company a lot.”