Chilean stocks climbed on Friday, setting a new high for the year, as the outlook for economic growth remains strong, and also on acquisition rumours about mobile telephone company Entel.
The IPSA blue-chip index added 0.43 percent to 1,642.04 points, a lifetime high in peso currency terms, while the broader IGPA index rose 0.13 percent to 8,253.08 points according to preliminary closing figures.
"Today there was a lot of buying pressure. Good expectations for the economy and for trade mixed with acquisition rumours," said German Guerrero, general manager of MBI brokerage.
Leading Chilean mobile telephone company Entel was the top value leader of the session, rising 6.24 percent to 4,600.00 pesos per share, on the revival of months of off-and-on rumours that Mexican telecommunications magnate Carlos Slim is contemplating an offer to buy the South American assets of Entel parent Telecom Italia.