Chile's blue chip stock index IPSA set a fresh record high on Friday with enough momentum from leading companies' positive third-quarter earnings to overcome pessimism about global economic growth.
"It was an advance in line with foreign markets and it's explained basically by Enersis after its recent results.
The rest responded to news related to specific businesses," said Lorena Pizarro, head of research at Alfa brokerage.
The IPSA rose 0.53 percent to 1,768.20 points while the broader IGPA index climbed 0.03 percent to 8,805.95 points, according to preliminary closing figures.
Enersis helped pull the IPSA past Thursday's record high despite declines by some market heavyweights. The company, the session value leader, jumped 1.20 percent to 91.90 pesos after it posted a 37 percent rise in its January-September net profit on strong energy sales.
Chile's third-biggest power generator Colbun gained 1.72 percent to 78.10 pesos per share.
Meanwhile, steelmaker CAP sunk 1.83 percent to 4,540.00 pesos per share. "Next week were expecting a weak start because of the presidential elections in the United States," Pizarro added.
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