Skip to main content

Empresas CMPC Falls Most in Two Weeks on Planned Equity Sale

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 York time and earlier fell 3.3 percent for the biggest intraday drop since September 25.

Shareholders in the Santiago-based company approved the sale of 20 million new shares at 13,800 pesos each, or $500 million, the company wrote today in a statement posted on the Web site of Chile’s securities regulator. CMPC said yesterday it will purchase a pulp unit in southern Brazil from Fibria for $1.43 billion.

“Today’s fall is a typical fall happening after the announcement about share prices,” Hernan Guerrero, an analyst at FIT Research Corredores de Bolsa SA in Santiago, said today in a telephone interview from Santiago. “This should pass pretty quickly.”

Comments

Popular posts from this blog

Moving to the Suburbs: Reducciones in Recent Latin American Historiography

In 1503, the Spanish monarchy issued its first decree for the resettlement of indigenous groups in the Caribbean so that they would “live together” and “not remain or wander separated from each other in the backcountry.”[1]

As the European conquest spread to North, Central, and South America, these new settlements – known as reducciones and congregaciones in Spanish and descimentos in Portuguese – became sites of forced labor, evangelism, experimental agricultural, and refuge. Through a series of imperial policies decreed over the next decades and centuries of colonial rule, Spanish and Portuguese officials attempted to reshape the New World, including its human and natural landscapes. How colonial historians explain this process and indigenous peoples’ reactions to it is the focus of this essay.

In a review of the recent historiography of reducciones, several trends emerge that signal a shift in our understanding of the practice. As this paper will show, one common element is that …

77-Year-Old Wall Street Favorite to Face Fujimori in Peru Runoff

By Nathan Gill and John Quigley April 12, 2016 (Bloomberg) -- The victory by Pedro Pablo Kuczynski, a former finance minister, for second place in Sunday’s Peruvian president elections sets up a showdown between two business-friendly candidates, part of a regional backlash against left-wing politicians.
Kuczynski, a 77-year-old Oxford-trained political economist who’s spent more than 50 years championing debt control and free trade, won 21 percent of vote with 96 percent of the ballots counted, according to the electoral office. He will face Keiko Fujimori, who won 39.8 percent, in a second-round vote on June 5.
Click here to read the full story on Bloomberg News.

Bailout Risk Grows for Ecuador After Worst Earthquake in Decades

By Nathan Gill April 19, 2016 (Bloomberg) -- Before a 7.8-magnitude earthquake struck Ecuador on Saturday, the South American nation’s finances were already in tatters as the government struggled to meet payments to municipal authorities, oil companies and even cancer hospitals. Cut off from global bond markets, President Rafael Correa must now find enough money to rehouse thousands.
As volunteers continue to rescue victims from the rubble of collapsed homes and buildings on Ecuador’s Pacific coast, doubts are growing about the country’s ability to pay for the reconstruction. The nation is already in its worst recession since the financial system collapsed in the late 1990s, and international reserves are at their lowest levels in almost seven years.
Click hereto read the full story on Bloomberg News.