By Nathan Gill Oct. 9 (Bloomberg) — Chile’s peso dropped the most in a week as prices for copper, the country’s biggest export, slumped on a strengthening dollar. The peso weakened 0.6 percent to 554.50 per U.S. dollar from 551 yesterday for its steepest drop since Oct. 2. It declined for a third week. Copper… Read More Chile’s Peso Slumps Most in Week as Prices for Copper Decline
By Nathan Gill Oct. 9 (Bloomberg) — Empresas CMPC SA, Chile’s second-biggest pulp producer by market value, fell the most in two weeks after the company said it would offer $500 million in new shares. CMPC, owned by Chile’s billionaire Matte family, dropped 1.3 percent to 19,400 pesos in Santiago trading at 1:34 p.m. New… Read More Empresas CMPC Falls Most in Two Weeks on Planned Equity Sale
By Nathan Gill Oct. 8 (Bloomberg) — Codelco, the world’s largest copper producer, said it won’t tap bond markets this year after Congress approved a bill to provide $1 billion in financing. Codelco may look to sell bonds from next year, Chief Executive Officer Jose Pablo Arellano told reporters today in Santiago. The company will… Read More Codelco Won’t Sell Bonds This Year, May Start in 2010
By Nathan Gill Oct. 7 (Bloomberg) — Copper shipments from northern Chile’s Antofagasta port restarted today after two weeks of delays caused by a labor strike, the port’s operator said. The 14-day strike ended last night, Tamara Rebolledo, a spokeswoman for Antofagasta Terminal Internacional SA, said today in a telephone interview. The strike affected some… Read More Chile’s Antofagasta Port Ends Strike, Restarts Copper Shipments
By Nathan Gill Oct. 1 (Bloomberg) — Sociedad Quimica y Minera de Chile SA, the world’s largest lithium producer, led declines on Santiago’s Ipsa Index after announcing price cuts for the metal used in batteries. Soquimich, as the company is known, fell 3.6 percent to 20,630 pesos, the steepest decline since June 22. The Ipsa… Read More Chile’s Soquimich Falls Most Since June on Lithium Price Cuts
By Nathan Gill Sept. 28 (Bloomberg) — The U.S. government is committed to resisting protectionism, Commerce Secretary Gary Locke said today during a presentation at a conference in Santiago, Chile. Protectionism doesn’t work, he said.
By Nathan Gill Sept. 25 (Bloomberg) — Colombia’s peso climbed for a fourth week on speculation the South American country is beginning to recover from its first recession since 1998. The peso climbed 1.3 percent this week to 1924.45 per dollar, extending its advance this month to 7 percent, the biggest gain among 26 emerging-market… Read More Colombian Peso Rises for Fourth Straight Week on Economy
By Nathan Gill Sept. 23 (Bloomberg) — Cia. Sudamericana de Vapores SA, Latin America’s largest container ship operator, rose the most in five weeks in Santiago trading after Standard & Poor’s said the company’s financial flexibility has improved. Valparaiso, Chile-based Vapores climbed 4.6 percent to 430 pesos at 1:42 p.m. New York time, its biggest… Read More Chile’s Vapores Climbs Most in Five Weeks as S&P Removes CreditWatch
By Nathan Gill and James Attwood Sept. 10 (Bloomberg) — Chilean consumer prices will rebound in September after declining in eight of the 10 previous months, according to economists in a monthly central bank survey. Prices will rise 0.4 percent in September from a month earlier, according to the median forecast of 28 economists in… Read More Chile Economists Forecast 0.4% Inflation in September
By James Attwood and Nathan Gill Sept. 9 (Bloomberg) — Chile’s Empresa Electrica del Norte Grande SA rose the most in three months after announcing it offered the lowest price in bidding for new supply contracts. The northern Chilean electricity producer known as Edelnor rallied 8.3 percent to 742 pesos in Santiago trading, the steepest… Read More Chile’s Edelnor Rallies After Submitting Lowest Supply Bids
By Nathan Gill Sept. 8 (Bloomberg) — Celulosa Arauco y Constitucion SA, the world’s second-biggest pulp maker, said a recovery in Asian markets is boosting the price of pulp. Demand for pulp at the forestry unit of Empresas Copec SA, Chile’s largest publicly traded company by market value, touched bottom last quarter and probably will… Read More Chile’s Arauco Sees Asia Recovery Driving Pulp Prices
By James Attwood and Nathan Gill Sept. 4 (Bloomberg) — Cristalerias de Chile SA, a glass container producer, rose the most in 14 years after agreeing to sell a stake in cable television company VTR GlobalCom SA. Cristalchile, as the company is known, rallied 15 percent, the most since April 1995, to 6,420 pesos in… Read More Cristalchile Rises Most Since 1995 on VTR Sale Accord
By Nathan Gill Sept. 3 (Bloomberg) — Bank lending in Chile probably will increase 2 percent this year as the economy rebounds in the second half from its deepest recession in a decade, the nation’s banking association said. Commercial loans and consumer lending should rise about 1 percent this year, the Asociacion de Bancos e… Read More Chile Bank Loans May Rise 2 Percent, Association Says
By Nathan Gill Aug. 28 (Bloomberg) — Banco Santander Chile, the country’s biggest lender, rose the most in three weeks after reporting profit that exceeded some analysts’ projections. The Santiago-based bank gained 2.7 percent, the most since Aug. 3, to 27.72 pesos. The unit of Spain’s Banco Santander SA reported net income of 219.2 billion… Read More Santander Chile Rises Most in Three Weeks on Earnings
By Nathan Gill Aug. 27 (Bloomberg) — Goldman Sachs Group Inc. and Chilean brokerage and investment bank Celfin Capital SA agreed to develop derivative products for Chilean pension funds, the country’s biggest investors, Celfin said. Goldman Sachs and Celfin will create and market financial instruments, including cross-currency and interest-rate swaps, for the South American country’s… Read More Goldman Sachs, Celfin to Sell Derivatives in Chile
By Nathan Gill Aug. 27 (Bloomberg) — Chilean banks’ combined profit increased 35 percent in July from the previous month as greater confidence in the South American country’s economy boosted consumer lending. Net income this year through July was 634 billion pesos ($1.2 billion), the banking regulator wrote in a report e-mailed today, without giving… Read More Chile Banks’ Combined Profit Rises 35 Percent in July
By Nathan Gill Aug. 26 (Bloomberg) — A unit of Empresas Copec SA, Chile’s biggest pulp producer, agreed to buy Brazilian wood-panel maker Tafisa Brasil SA for about $165.2 million. Placas do Parana SA, a unit of Copec’s forestry subsidiary Celulosa Arauco y Constitucion SA, will buy 100 percent of the Brazilian company from Sonae… Read More Chile’s Copec to Buy Tafisa Brasil for $165.2 Million
By Nathan Gill and James Attwood Aug. 21 (Bloomberg) — Two Chilean poultry farms are under quarantine after swine flu was detected in turkeys, the first case of the virus found in birds, the nation’s health ministry and U.S. health officials said. Sopraval SA, the Santiago-based producer of poultry, beef and pork products, said agricultural… Read More Chile Turkey Farms Quarantined After Swine Flu Found
By Nathan Gill Aug. 18 (Bloomberg) — Chile’s Cia. Sudamericana de Vapores SA, Latin America’s largest container ship company, reached an agreement with Samsung Heavy Industries Co. to change its ship-building contracts. Vapores, as the company is known, will buy five ships worth a total of $625 million from Seoul-based Samsung Heavy, the world’s second-largest… Read More Chile’s Vapores and Samsung Heavy Reach Deal on Ship Contracts
By James Attwood and Nathan Gill Aug. 17 (Bloomberg) — Chile’s peso fell to a two-month low after copper, the country’s biggest export, declined and the U.S. dollar strengthened against major currencies. Chile’s currency, up 14 percent so far this year, dropped 1.3 percent to 558.75 per U.S. dollar at 12:01 p.m. New York time,… Read More Chile’s Peso Falls as Copper Declines; Peruvian Sol Slides
By Nathan Gill Aug. 15 (Bloomberg) — Multiexport Foods SA, Chile’s biggest publicly-traded salmon producer, said its first-half net loss widened on higher costs and lower sales related to a virus that has depleted fish stocks. The loss widened to $48.7 million from a $11.4 million loss in the year-earlier period, according to data posted… Read More Chile’s Multiexport Foods Says First-Half Loss Widens on Salmon Virus
By James Attwood and Nathan Gill Aug. 14 (Bloomberg) — Cencosud SA, Chile’s biggest retailer by sales, posted a steeper-than-estimated drop in second-quarter profit on lower sales and currency losses. First-half net income fell 66 percent, the Santiago-based company reported in a regulatory filing today without giving separate second-quarter results. Second-quarter profit fell to 8.96… Read More Chile’s Cencosud Quarterly Profit Slides More Than Estimated
By Nathan Gill and James Attwood Aug. 14 (Bloomberg) — Socovesa SA, Chile’s second-biggest building company by market value, reported a first-half loss as an economic slowdown stifled new home sales. Socovesa, based in Santiago, lost 6.86 billion pesos ($12.4 million), compared with a profit of 2 billion pesos in the same six months last… Read More Chile’s Socovesa Reports First-Half Loss of 6.9 Billion Pesos
By James Attwood and Nathan Gill Aug. 14 (Bloomberg) — SACI Falabella SA, Chile’s biggest retailer by market value, reported a 48 percent slump in second-quarter profit because of a drop in sales and foreign-exchange rate losses. Net income fell to 33.4 billion pesos ($60.5 million) from 63.7 billion pesos a year earlier, the Santiago-based… Read More Chile’s Falabella Profit Falls 48% on Sales Drop, Currencies
By Nathan Gill and James Attwood Aug. 12 (Bloomberg) — Cap SA, the Chilean steelmaker that posted a first-half net loss yesterday, is seeking changes to bondholder protection rules governing capital requirements. Bondholders will be presented with a proposal on Aug. 28 to modify minimum capital levels, Banco Santander SA, which represents bondholders, said in… Read More Chile’s Cap Seeks Changes to Bondholder Protection Covenants
By James Attwood and Nathan Gill July 23 (Bloomberg) — Sam Zell’s Equity International is seeking new real estate-related investments in Brazil as record low interest rates accelerate growth in Latin America’s biggest economy. Equity International is looking to tap Brazil’s “relatively immature” commercial real estate finance business after selling assets in Mexico and Chile,… Read More Zell’s Fund Chases Brazil Assets as Economy Recovers
By Nathan Gill and James Attwood July 22 (Bloomberg) — Salmon prices, which gained as much as a third in the U.S. this year, may extend the rally as a virus hurts output in Chile, the nation’s biggest publicly traded producer said. Prices may rise a further 20 percent this year amid tumbling… Read More Salmon Prices May Rise 20%, Chile’s Multiexport Says
By James Attwood and Nathan Gill July 20 (Bloomberg) — Empresas CMPC SA, Chile’s second-biggest pulp producer, rose the most in 10 weeks on speculation that recovering demand and prices will boost earnings. CMPC, controlled by Chile’s Matte family, climbed 6.7 percent to 15,591 pesos in Santiago trading. It was the biggest jump… Read More Chile’s CMPC Rallies on Speculation Pulp Outlook Is Improving
By Nathan Gill July 13 (Bloomberg) — Empresas La Polar SA, a Chilean retail company that targets middle-income earners, climbed the most in two weeks on speculation that central bank measures to reduce credit costs will boost consumer demand. The department-store owner rose 2.6 percent to 1,940 pesos in Santiago trading, extending a… Read More Chile’s La Polar Rises Most in 2 Weeks on Demand Speculation
By Nathan Gill July 8 (Bloomberg) — Enjoy SA, a Chilean casino operator, raised 23.1 billion pesos ($42 million) in the Santiago stock exchange’s first initial public offering this year. Enjoy sold 462 million shares for 50 pesos each, the Santiago-based company said in a statement today. The stock fell 1 percent to… Read More Enjoy Raises $42 Million in First Chile IPO This Year
By Nathan Gill July 8 (Bloomberg) — Enjoy SA, a Chilean casino operator, will offer initial shares in the company for 50 pesos per share, Francisco Martinez, the chief executive officer, said in a statement posted last night on the country’s securities regulator’s Web site.
By Nathan Gill July 8 (Bloomberg) — Enjoy SA, a Chilean casino operator, said it will sell shares for 50 pesos each in the Santiago stock exchange’s first initial public offering this year. The company will announce the full amount raised at a ceremony at the exchange today, according to a statement posted… Read More Enjoy to Sell Shares for 50 Pesos Each in Chile IPO
By Nathan Gill July 6 (Bloomberg) — Sociedad Quimica y Minera de Chile SA, Chile’s biggest fertilizer producer, dropped the most in two weeks on concern that a slump in grain prices may limit demand for the company’s products. The Santiago-based company known as Soquimich fell 1.3 percent to 19,674 pesos in Santiago… Read More Chile’s Soquimich Falls Most in Two Weeks on Demand Outlook
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