Archive for February, 2012

Chilean Stock Movers: Cap, Cencosud, Sud Americana de Vapores

The following companies are having unusual price changes in Chilean trading. Stock symbols are in parentheses and prices are as of 1 p.m. in Santiago.

The Ipsa (IPSA) index fell 0.4 percent to 4,384.60. The MSCI Chile (MXCL) index dropped 0.9 percent to 2,571.23.

Cap SA (CAP) (CAP CC) fell 0.9 percent to 21,650 pesos. Chile’s largest steel and iron-ore producer retreated from a six-month high as the price of iron ore for immediate delivery fell for a fourth straight day, according to a measure compiled by The Steel Index Ltd.

Cencosud SA (CENCOSUD) (CENCOSUD CC) slid 1 percent to 3,009 pesos. Chile’s biggest retailer, which earlier slumped as much as 2.7 percent, pared losses after forecasting sales this year of $18 billion and earnings before interest, taxes, depreciation and amortization of $1.6 billion in an e-mailed statement.

Cia. Sud Americana de Vapores SA (VAPORES CC) declined 0.6 percent to 99.2 pesos. Latin America’s biggest container shipper began today the sale of about 2 billion shares to existing holders, the company wrote in an e-mailed statement.

Read the full article here.

Former MF Global official says he warned Corzine

The former chief risk officer of MF Global says he warned then-CEO Jon Corzine in late 2010 of the risks in large bets on European government debt. Those bets sank the brokerage firm last fall.

Michael Roseman, who left MF Global in January 2011, was testifying Thursday at a hearing of a House oversight subcommittee. Lawmakers are looking at why MF Global failed and became the eighth-largest U.S. bankruptcy.

About $1.2 billion disappeared from customer accounts.

Read the full article here.

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