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Chilean Equity Movers: Embotelladora Andina, La Polar, Soqumich

By James Attwood and Nathan Gill
     Dec. 16 (Bloomberg) -- The following companies had unusual price changes in Chilean trading. Stock symbols are in parentheses, and share prices are as of 3:48 p.m. in New York.
     The Ipsa index rose 0.5 percent to 2,335.70.

     Embotelladora Andina SA (ANDINAB CC) advanced for the first time in three days, climbing 2.2 percent to 1,390 pesos. The distributor of Coca-Cola products in Chile, Argentina and Brazil is “defensive and has a dividend return that’s very attractive in situations like today,” Rodrigo Tapia, an analyst at BCI Corredores de Bolsa, said by phone today from Santiago. “It more or less ensures a positive return.”

     La Polar SA (LAPOLAR CC) slid 1.4 percent to 1,065 pesos, extending a loss in the last three months to 41 percent. The Santiago-based department store operator had its share-price and earnings estimates cut at UBS AG, which cited a slower economy and tighter credit markets. The share forecast was lowered to 1,230 pesos from 3,136 pesos, analysts including Roberto Guevara wrote in a note to clients.

     Sociedad Quimica y Minera de Chile SA (SQM/B CC) rose to the highest in three months, climbing 4.9 percent to 16,100 pesos. Some crop nutrient producers were raised to “buy” at Merrill Lynch & Co., which said “fertilizer fundamentals are nearing a bottom.” Soqumich, as the company is known, is Chile’s biggest fertilizer maker.

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