Chile's stock index seen growing 10 percent in 2015

Shares on Chile's stock exchange are seen gaining 10 percent in 2015, more than double the pace this year, according to eight analysts surveyed by Reuters, as falling oil prices and a stronger dollar give a boost to power utilities and wine producers. They expect the Santiago Stock Exchange's bluechip IPSA index to expand around 10 percent next year to 4,170 points, following a mild increase of 4.1 percent in 2014 and sharp 14 percent drop in 2013.
"The main drivers have to do with favourable international conditions for investment in stocks and better margins at many companies due to lower costs," said Benjamin Sierra, analyst at Scotiabank in Santiago. As Chile imports the vast majority of fossil fuels it consumes, a reduction in oil prices will help reduce costs and be a boon to electricity generators including Enersis, Endesa Chile, Colbun and ECL. Rebounding water levels at reservoirs should also ease costs by allowing for cheaper increased hydroelectric power generation.