Chilean stocks fell slightly on Friday as the market took a breather from its recent run-up, eyeing foreign markets where record high oil prices have limited stock gains, analysts said.
The IPSA blue-chip index fell 0.20 percent to 1,539.79 points, but notched a gain of nearly 1 percent for the week. The broader IGPA index dipped 0.17 percent to 7,959.92 points, according to preliminary closing figures.
"I think the local market behaved more in line with other world markets. There was an adjustment due to profit-taking pressured by international stock markets and the price of oil," said Mariela Iturriaga, head of research at BBVA brokerage in Santiago.
Chile's biggest mobile telephone company Entel, fell for a second day in a row, after a jump on Wednesday amid speculation it might be acquired by a foreign company. On Friday, Entel fell 1.35 percent to 4,050.10 pesos per share.
The session's most active share in terms of value was retailer D&S, which shed 0.94 percent to 630 pesos per share. The share has fallen for four days in a row, ahead of what is expected to be a weak second-quarter report next week. A market source said D&S was also off because of a jump last week when it placed a secondary offering of shares.
"After the effervescence of D&S's share offer, the shares have lost attractiveness for the people who were just in it for quick gains," said a stock trader at a local bank, who asked not to be named.
In the foreign exchange market, the peso currency strengthened 0.39 percent against the dollar, following the euro higher after the US posted a wider-than-expected June trade deficit.
The peso closed at 639.80/640.30 per greenback, barely changed from last week's close of 638.60.