Chile's blue chip IPSA stock index closed higher on Friday, led by retail shares ahead of a 2010 investment plan announcement by top retailer Cencosud, while the peso slipped, traders said. The IPSA rose 0.62 percent to close at 3,349.73 points, while the all-market advanced 0.49 percent to 15,717.51 points. The IPSA is up more than 41 percent on the year.
"Chile's market has been positive, driven principally by energy and consumer stocks," said Cesar Perez-Novoa, executive director of Celfin Capital shortly before the market's close. "In fact, Cencosud was going to hold a press conference later today on capital expenditures and I think that was a positive development that has lifted other retailers today."
After the markets closed, Cencosud owner Horst Paulmann told reporters the company would invest over $700 million in 2010 and revive a $600 million mega-mall project suspended in January that was emblematic of the global crisis. Cencosud, one of Latin America's largest retailers, rose 3.57 percent to 1,675 pesos per share, while rival La Polar, edged up 0.86 percent at 2,560 pesos. Chilean regional energy group Enersis advanced 0.92 percent to 196 pesos per share, while electric generator Endesa, rose 0.53 percent to 810 pesos.
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