13 January 2009

Chile Equity Movers: Enersis, Colbun, Ripley, SACI Falabella

By James Attwood and Nathan Gill
     Jan. 13 (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 0.1 percent to 2,470.06.

     Enersis SA (ENERSIS CC), the Latin American unit of Spanish power company Endesa SA, fell for the first time in four days, sliding 1.6 percent to 166.45 pesos. Changes in electricity rates in Chile from tomorrow probably will reduce pretax sales from Enersis’ distribution unit Chilectra SA by 52 billion pesos ($84.5 million), Enersis wrote in a regulatory filing.
     Colbun SA (COLBUN CC) rallied 3.3 percent to 103 pesos, its fourth gain in five days. Chile’s No. 3 electricity generator had its weighting increased in Banchile Inversiones’ recommended Chilean stock portfolio as Enersis’s weighting was reduced.

     Ripley Corp SA (RIPLEY CC), a Santiago-based department-store operator, declined for a fifth day, sliding 1.9 percent to 290 pesos. Less diversified retailers such as Ripley are more vulnerable in economic slowdowns than operators with supermarket assets such as SACI Falabella SA (FALAB CC), Raul Barros, an analyst at FIT Corredores de Bolsa SA, said by phone today. Falabella rose 2.3 percent to 1,795 pesos, recovering most of yesterday’s loss.